Climate Neutrality: What is next for Carbon Capture in Europe?
Carbon capture has seen an impressive revival in Europe and the region is poised to become a technology leader. Carbon capture is included as one of the seven strategic building blocks of the European Commission’s Vision for an European Union 2050 Long-term Strategy. At least 11 member states have cited it in their national energy and climate plans. The UK Committee on Climate Change, which advises the UK government on climate policy, reaffirmed carbon capture’s role as a “necessity, not an option”.
Renewed interest from governments and companies alike has led to a raft of projects in planning, with many of them eligible for the various funding mechanisms put forward as part of national recovery and climate packages, as well as the EU’s pathway to climate neutrality.
Despite momentum and a solid foundation, both the EU and individual European countries will need to design more ambitious carbon capture deployment-specific policy approaches. How can carbon capture deployment be achieved at scale in the near-term? Which policy mechanisms can reduce cost, incentivize standardization, and streamline project development times moving from demonstration to commercial deployment?
This CATF Issue Brief on carbon capture in Europe explores the current status of carbon capture policy and projects in Europe, and what is needed to ensure a scale-up that aligns with climate ambition and net-zero targets.