The non-profit organisation CO2 Value Europe has published a comprehensive report on the key role that carbon capture and utilisation (CCU) technologies will play in achieving climate neutrality in Europe.
The organisation stressed that the carbon dependence of many industries will not be eliminated by 2050 and said that to meet the inevitable demand for fuels, chemicals and materials, Europe needs to accelerate the adoption of CCU as a way to generate renewable feedstocks for these sectors.
The information presented in the report comes from dedicated workshops where more than 30 experts active in the CCU supply chain were given the opportunity to provide input as the organisation developed scenarios and modelling exercises over a two-year period.
According to the report's findings, Europe will not be able to achieve climate neutrality by 2050 unless it steps up the development and adoption of CCU technologies. In 2050, around 320 million tonnes of CO2 will need to be captured in the EU, of which 55% will be used for production and the rest stored underground.
“Carbon capture only works if it's profitable,” says Martin Keathley, CEO of CarbonFree.
The study details how CCUs can play a key role in decarbonising the industry and reducing emissions by at least 20%.
As a key challenge on this agenda, the organization points out that European Union institutions need to provide stronger support for developing CCU as an independent strategic activity, include it in policy instruments and promote the creation of a capture infrastructure.
Related: Major companies launch new European carbon capture and storage alliance
The study argues that the carbon cycle should be recognised as a concept and that the use of captured carbon as a raw material should be encouraged. In its report, CO2 Value Europe calls for setting benchmarks for 2030, 2040 and 2050 and for clear targets to be set for the “de-fossilisation” of industry.
Furthermore, it is necessary to prioritise financing instruments for CCUs, encourage EU Member States to include CCU elements in their national energy and climate plans, and encourage participants in the CCU chain to invest in this technology.
To facilitate mineralisation projects, market access mechanisms (such as public procurement) and a clear certification framework will be required. The EU regulatory framework should provide legal certainty for CCU fuel producers both within and outside Europe, and compliance mechanisms should be developed through international cooperation.
Read more: France confirms role of carbon capture in national strategy
