The EU has set itself on an ambitious pathway to decarbonise its economy by the middle of the century. Achievement of this net-zero climate ambition by 2050 will require the considerable quantities of CO₂ emitted by industrial processes to be captured and permanently stored.

A significant number of carbon capture and storage projects across Europe are now being developed. Yet very few are in operation or even under construction. The business case for industry to encourage investment in CCS is still largely absent, given the upfront costs involved along the entire value chain.

Carbon capture is not only a necessary solution to curb emissions but also has the potential to be a lever for economic growth in Europe. Some of Europe’s most significant industries will be reliant on CCS to curb their emissions in the absence of a cost-effective and efficient alternative to carbon capture.

Hundreds of carbon capture plants must be built over the next decade together with the associated transport and storage infrastructure. By some estimates, the establishment of a global CCS industry could lead to the creation of up to 140,000 new jobs associated with construction and facility operations by 2050.

Fuente: Carbon Capture & Storage Europe