Funding CCS in Europe: key investments for the recovery

July 2020

This document outlines the main reasons why investing in Carbon Capture and Storage (CCS) is key for the recovery.

IOGP welcomes the variety of EU proposals for funding instruments as an opportunity to direct public support to energy and low-carbon technologies. Most of these, such as CCS, are key components of the Green Deal and at the heart of the Recovery Package.

IOGP urges the European Parliament and the Council to support CCS in the upcoming dossier on funding tools, starting with InvestEU.

Overview

  • CCS: a fundamental climate tool not to be delayed
  • Which EU funds for CCS projects
  • CCS Projects in Europe

Key Points

CCS is a technology providing benefits from a climate perspective by reducing emissions but also from an economic one, by maintaining competitive industries in Europe.

CCS can also compensate residual emissions in other sectors: when applied to sustainable biomass or biogas, CO2 capture and storage can help to drive negative emissions by removing CO2 from the atmosphere, making BECCS an important contributor to limiting global warming.

Key Points

IOGP

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