Europe bets on industrial carbon management

2024-02-19 07:30:37

The European Commission unveiled its industrial carbon management strategy at the beginning of February to capture, store and use CO2. It aims in particular to define the regulatory and investment framework to accelerate the deployment of these technologies and create a single CO2 market in Europe.

In December 2023, COP28 paved the way for carbon capture and storage technologies to achieve the goals of the Paris Agreement. In order to arrive at COP30 in Brazil in 2025 with a reinforced climate commitment, Europe intends to adopt a new objective for reducing greenhouse gas emissions for 2040. The 27 EU countries are already aiming for a reduction of their greenhouse gas emissions by 55% by 2030 compared to 1990, with a view to achieving carbon neutrality in 2050.

On Tuesday February 6, 2024, the Commission recommended a new intermediate objective for 2040, aiming for a 90% reduction in emissions by this time compared to 1990. It will be up to the next Commission, formed in the fall after the European elections, to submit a formal legislative proposal to States and MEPs. On the same day, the European Parliament and the Council reached a political agreement on the regulation for a “net zero” industry. And the Commission has adopted a strategy of industrial carbon management to capture, store and use CO₂.

Capture, store and use CO₂

The EU wants to develop the capture and geological storage of CO₂direct absorption of CO₂ atmospheric, as well as the capture and use of CO₂ in the manufacture of construction products, chemicals or synthetic fuels. The regulation for a “net zero” industry aims to develop CO storage capacity₂ at least 50 million tonnes per year by 2030. This is the equivalent of Sweden’s annual emissions in 2022.

If the objective of reducing greenhouse gas emissions by 90% is retained for 2040, the European Commission estimates that around 280 million tonnes of CO will need to be captured₂ per year by 2040 and around 450 million tonnes per year by 2050. 450 million tonnes of CO₂it is the equivalent of annual emissions of France in 2015. It will also be necessary to absorb CO₂ of the atmosphere.

The strategy of industrial carbon management aims to establish a regulatory and investment framework to accelerate their deployment and create a single CO market₂ and Europe. « This strategy should catalyze coordinated actions and financing”in order to “ overcome technical, regulatory and economic obstacles » to build a European CO transport network₂analyse Toby Lockwood, du think-tank Clean Air Task Force.

Building CO infrastructure₂

To develop these technologies, a CO transport infrastructure₂ will indeed be essential. Because the CO₂ captured is not always used or stored directly at the capture location. “ Transport of CO₂ can be carried out by gas pipeline, boat, train or truck », recalls the Commission, which will begin preparatory work on a possible future package of regulatory measures on the subject.

With this in mind, the Joint Research Center (JRC) of the European Commission has carried out a modeling on the needs and cost of this CO transport infrastructure_2. The network could thus reach 7,300 km in 2030, 19,000 km in 2050. Its deployment could cost up to 19.5 billion euros by 2030, 23.1 billion euros in 2050.

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