As the EU is working on establishing a framework for carbon capture utilization and storage and carbon removal technologies as part of its Fit for 55 package and the EU Green Deal, a discussion has been reignited.
38 companies in the carbon capture and decarbonization sectors have signed an open letter urging the European Commission to publish the Industrial Carbon Management Strategy by the end of the year.
“The need for a co-ordinated Industrial Carbon Management Strategy at the EU level has never been greater. The signatories would like to express their strong support for the need for an Industrial Carbon Management Strategy and to call on the Commission to ensure its timely publication this year. Deployment of CCS in Europe will be critical to reduce CO2 emissions by decarbonizing hard-to-electrify industrial processes with unavoidable process emissions and protect the competitiveness of such European industries and the thousands of people they employ,” states in the letter.
The Industrial Carbon Management Strategy aims to establish an industrial carbon management market in the EU by 2030 and is due for publication by the end of 2023. It will outline the role that carbon capture utilization and storage technologies would have in decarbonizing the union by 2030, 2040, and 2050.
The strategy will serve emitters in hard-to-abate sectors who would need to apply carbon capture and storage (CCS), carbon capture and utilization (CCU), or industrial carbon removals in order to achieve climate neutrality.
The European Commission has currently an open public consultation with a deadline 31st of August 2023 to gather input from interested parties to further develop and fine-tune the initiative.