2023-08-27 10:00:16
BMF launches national CO2 strategy with stakeholder dialogue; CO2 management essential for green industry
Vienna (OTS) – Finance Minister Magnus Brunner initiates a national “Carbon Management Strategy”. The aim is to regulate the handling of CO2 in such a way that Austria remains an attractive business and employment location with secure and highly qualified jobs. To achieve the climate goals, it is not enough to reduce the CO2 -Emissions only to be reduced. Austria also needs a concept to use existing potential for binding greenhouse gases wisely and to secure it in the long term. The possibility of storing, processing, using and transporting CO2 is particularly important for domestic companies To create the necessary framework for this, Brunner invites stakeholders from business, politics and science to a dialogue.
Brunner: “Austria should remain an attractive business and employment location with secure and highly qualified jobs in the future. To this end, we are now launching a national carbon management strategy in order, among other things, to develop the appropriate framework conditions for storing and processing CO2 and the corresponding transport infrastructure in Austria.”
Climate protection and the long-term safeguarding of Austria as a business and employment location are closely linked. The Austrian federal government is therefore investing a total of 5 billion euros in the ecological transformation of the economy by 2026. In particular, the storage and processing or use of CO2, which is produced in energy-intensive industry, plays a strategically central role. These methods are called carbon capture and storage (CCS) and carbon capture and utilization (CCU). In the future, CCS and CCU will be indispensable components of every economic system. CCS and CCU are cited as key technologies for an ecological transformation of the economy in the green industrial plan of the EU Commission, by the Intergovernmental Panel on Climate Change (IPCC) (“World Climate Council”), and the International Energy Agency (IEA).
On September 13, at the invitation of Finance Minister Magnus Brunner, a top-class group of experts will meet at the Ministry of Finance. Entrepreneurs, representatives of the federal states and the parties in the National Council, the social partners, the non-government organizations Greenpeace, WWF, Global 2000 and FFF, representatives of BOKU Vienna, TU Vienna, Montan Uni Leoben, Uni Linz and the Wegener Center, representatives of the Ministry of Climate Protection, the Ministry of Labor and Economic Affairs, the Federal Chancellery and the Federal Environment Agency.
Brunner: “We don’t want to fall behind, we want to be among the pioneers.”
“In addition to technical storage, we will also discuss the topic of biological storage and develop a national purchasing strategy and infrastructure plans for the transport of CO2. Corresponding management approaches are increasingly being developed at EU and Member State level. It is important to me that we do not fall behind here, but are among the pioneers,” said Finance Minister Magnus Brunner.
CO2 storage as a key technology for green industry
In order to achieve the Austrian goal of climate neutrality cost-effectively, there will be an annual storage requirement of 5-10 million tons of CO2 in the future. This is shown by an analysis by the BMF as part of the long-term forecast for the budget. CCS cannot currently be used in Austria because the geological storage of CO2, for example in suitable old gas fields, is currently prohibited. The corresponding law is currently being evaluated. At the same time, it is important to examine transport options, including the necessary infrastructure, to other EU countries (especially the countries bordering the North Sea) where the conditions for storing or using CO2 are even more favorable.
Questions & contact:
Federal Ministry of Finance, press office
(+43 1) 514 33 501 031
bmf-presse@bmf.gv.at
Johannesgasse 5, 1010 Vienna
1693159362
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