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Is Carbon Capture and Storage worth EU investment? | 21.05.13

Brussels, 21.5.2013

The EU's renewable energy policy sets out ambitious environment and climate change objectives. Carbon capture and storage (CCS) forms an important component of the EU’s strategy to meet these targets. In EASAC's latest report, experts find that at present CCS is not economically viable and strong policy action will be essential to creating CCS demonstration plants and the first generation of commercial facilities.

"If CCS is to make a significant contribution in Europe to climate change mitigation, technologies, capacity and infrastructure need to be developed urgently. CCS is not a tap that can simply be turned on, if and when suitable financial conditions emerge, or if future policy makers decide that CCS is a crucial component of Europe's energy strategy", comments Professor Sir Brian Heap, President of EASAC.

The report considers the three main components of CCS - capture, transport and storage.  It also presents an evaluation of alternatives to mainstream CCS technologies and reviews the important overarching issue of public engagement.

Drawing these strands together, the report evaluates the prospects for CCS in Europe from now until 2050 and makes recommendations on the policy initiatives that will be necessary to enable CCS to contribute to climate change mitigation in Europe. Financial viability of CCS, storage issues, CCS technology development, CO2 transport and public engagement are analysed and discussed.

EASAC will present the report on 22 May 2013 at 12:00 at the Royal Academies' Palace in Brussels.  It will be followed by a panel discussion and contributions from the floor will be welcome.  For more information about the event, download the invitation.

Read the full report and the short summary here.

Download press release here.