Key European Commission roadmaps towards 2030 and 2050 have identified Carbon Capture and Storage (CCS) as a central low-carbon technology to achieve the EU’s 2050 Greenhouse Gas (GHG) emission reduction objectives, although there still remains a great deal to be done in terms of embedding CCS in future policy frameworks. Other significant legislation with an impact on CCS includes the EU Emissions Trading System (ETS)
, which is intended to drive investment in low-carbon technologies. Given the expected role of CCS in the EU’s energy mix, the EU also adopted a Directive addressing the safety of storage sites in 2009.
In order to secure full deployment of CCS and allow the technology to play its key role in the effort to address climate change, significant investment is needed. A concerted effort between private and public investors is required, not only at national level, but also at European level. At EU level, there are a number of instruments under the present Multiannual Financial Framework (MFF) that could be used to leverage the deployment of CCS technology.