Europe has to invest more in CCS technology

European Parliament urge Member states and the EU to develop the sector

Alde MEP Chris Davies

by Emiliano Biaggio

Carbon capture and storage (CCS) projects should be encouraged, said the European Parliament on Tuesday. The Plenary adopted at great majority (524 votes in favour, 141 against and 25 abstentions) a report in which is highlighted the importance of CCS technology, suggesting to invest in research in such a field. The report is a non-legislative text, so it's not legally binding. What is important is the political message sent by the EU Parliament: inside Europe the debate on CCS is ongoing, and the carbon capture and storage projects begin to be considered as the next energetic frontier.«CCS deployment - is written into the report adopted in Strasbourg - has the potential to allow the EU to meet its 2050 low-carbon aspirations at least cost and is necessary in particular for decarbonising high CO2 emitting industries». MEPs believe that it may also «contribute to the diversity and security of energy supplies» while maintaining and creating employment opportunities. For all these reasons the European Parliament calls on the Commission to «consider creating» an EU industrial innovation investment Fund to support the development of innovative climate-friendly technologies including CCS flagship projects. Such a tool could be financed from the sale of allowances from the EU ETS, without leading to a new demand on the EU budget, suggests the report. Given the investments needed, instruments in addition to the EU ETS «would be needed» to stimulate research and application of CCS. MEPs have no doubt: there's no time to waste. On the contrary, there is «the urgent need» to develop a range of full-chain CCS flagship projects so as to identify the best and economically most advantageous solutions, and all that depends on the Commission. «Our aim should be not only to reduce Europe’s CO2 emissions but also to do so at the least-possible cost», explained Chris Davies (Alde), rapporteur of the document. «CCS technology can allow us to use fossil fuels to keep the lights on even when the wind is not blowing and the sun is not shining».