European Commission Releases a Communication on Sustainable Carbon Cycles, Highlighting Carbon Removal Objectives
16th December 2021
In support of the European Green Deal, the European Commission has issued a communication outlining its carbon removal objectives and principles.
Along with reiterating a continued commitment to reduce the use of fossil carbon, the Communication calls for a scale-up of carbon capture, use and storage technology to mitigate emissions. To drive the deployment of CCS, the Commission will move forward with a study that will assess the development of CO2 transport networks in Europe, and will also update several guidance documents for the CCS directive. CCS projects in Europe will continue to see funding support through the EU Innovation Fund and Horizon Europe. In order to speed up commercialisation of innovative technologies, including CCS, the Commission has proposed to increase the size of the Innovation Fund and to include the possibility of carbon contracts for difference (CCD) in the revised EU ETS Directive.
To account for and identify carbon removal activities, the Commission will implement a regulatory framework in the form of a certification mechanism. The certification for carbon removals will help identify high-quality natural and industrial (technology-based) CO2 removal, the Communication notes. It also puts forward an aspirational objective of removing and permanently storing 5 Mtpa of CO2 through technology-based carbon removal by 2030.
Read the Sustainable Carbon Cycles Communication here.