The European Commission has confirmed that Europe cannot be decarbonised cost-effectively – and maintain security of energy supply – without CCS.
Yet its benefits go far beyond that of climate change mitigation: with annual investments worth billions of euros, CCS will create and preserve jobs, boost industry and fuel economic growth, ensuring Europe remains competitive on the world stage as a leader in low-carbon energy technologies.
But the window of opportunity is closing fast. In order for CCS to be widely deployed by 2030 – and deliver EU climate targets – the following is urgently required:
- A solid business case for CCS: as the carbon price is likely to remain low in the 2020s, transitional support measures for CCS demonstration and early deployment projects are essential. Structural reform of the EU ETS is also urgently required – in particular, setting a tighter cap out to 2030.
- A long-term signal for investors, including the full integration of CCS into legislative proposals for the EU 2030 energy and climate framework.
- An infrastructure development plan, including business models which align commercial interests across the entire CCS value chain – with any legal barriers or other blockers resolved.
Download ZEP’s position paper below.
ZEP strategy paper (PDF – 152.43kb)