“Greenhouse gas emissions must peak and fall in the next decade and we cannot rely on wind and solar alone for this. Fossil fuel will remain an important source for power generation for many years but we cannot continue to burn it in the same way,” said the Commissioner.
“CCS can play an important role in reducing emissions for coal and gas plants as well as heavy industry, while we further develop renewable energy solution.”
Commissioner Oettinger called for increased cooperation between member states in developing a network for the transportation of CO2, pointing out that not all countries were able to develop storage facilities themselves.
He said that greater public engagement would be required in the future if acceptance of CCS was to be achieved but that this would not be easy. “It will take time and resource and clear communication to bring local communities onboard,” said Oettinger.
The European Commission, European Investment Bank and member states are planning to part-finance up to eight CCS demonstration plants under its NER300 programme, which will see around EUR4.5bn ($6.2bn) raised through the sale of new emission allowances for CCS and renewable energy projects.
The balance of funding must come from member states schemes and there is concern that in some countries, policies are not in place to accomplish this.