📢 Harnessing the #IPCEI mechanism to boost carbon capture, transport, and storage in Europe!
📃 Today, 30 members of the industrial carbon management community and umbrella organizations come together to support an #IPCEI for industrial carbon management (#ICM).
🤝This broad coalition of companies across the value chain and environmental NGOs calls on JEF-IPCEI representatives to prioritize #ICM in the upcoming meeting and enhance JEF-IPCEI's role to accelerate the decarbonisation of hard-to-abate sectors.
Why this matters?
➡️ Industrial carbon management is vital for Europe's climate neutrality, as highlighted by the EU's Industrial Carbon Management Strategy, EU 2040 Climate Target, and the Net Zero Industry Act.
➡️ Lack of viable business cases and funding mechanisms remain prominent barriers for deployment in Europe.
➡️ The EU ICM Strategy plans to support an IPCEI for industrial carbon management.
💡 What are IPCEIs?
IPCEIs (Important Projects of Common European Interest) unite public and private resources to undertake large-scale projects that address market failures and societal challenges, benefiting the EU economy and society as a whole. IPCEI are initiated and funded by Member States, and must involve at least four member states. Since 2023, the JEF-IPCEI has brought together Member States, Commission representatives, industry, and experts to improve IPCEI effectiveness and identify strategic technologies for future IPCEIs.
#CarbonManagement #NetZeroIndustry #CCS #CCU #CDR
Signatories:
Bellona Europa, Carbon Capture and Storage Association, CCS Europe, CEMBUREAU , Clean Air Task Force, Climeworks, Equinor, Global CCS Institute, Groningen Seaports, Hafslund Oslo Celsio, Heidelberg Materials, IFP Energies nouvelles, IOGP Europe, Mitsubishi Heavy Industries, ORLEN S.A., Offshore Norge, Verband der Industriellen Energie- & Kraftwirtschaft (VIK), Norsk Hydro, Wintershall Dea, Uniper, Yara Europe, Energy Hub Port of Wilhelms Haven, Porthos, Hydrogen Europe, Gasunie, VNG AG, AGROFERT, a.s., OGE, ENGIE