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Policy & Regulation

EU funds may boost CCS, but more is needed

The European Court of Auditors has concluded that more funding is needed to get carbon-capture technologies off the ground, but cash alone will not do the job The European Court of Auditors has concluded that more funding is needed to get carbon-capture technologies off the ground, but cash alone will not do the job.
By Andreas Walstad 25 October 2018 Europe & Russia / Policy & Regulation 0 33046
The UK’s Drax power station was set to receive a grant for CCS, but the project was never delivered. (Drax)

A new report by the European Court of Auditors has advocated greater EU funding for carbon capture and storage (CCS), but higher carbon prices and well-designed national support schemes will also be needed to commercialise the expensive technology. 

The Luxembourg-based court – a ‘financial watchdog’ that monitors EU spending and revenues – said funding from the EU’s Innovation Fund would likely be needed to accelerate a roll-out of carbon-capture projects in Europe. The Innovation Fund is expected...

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