Minimizing risks from Carbon Capture & Storage and the governance mechanisms needed in Europe

CO2 storage technologies could support the transition to a climate neutral economy and deliver negative emissions contributing to Europe’s climate target. The decarbonisation of certain industrial processes with Carbon Capture and Storage (CCS) such as in the cement sector and industrial negative emission technologies such as Biomass with Carbon Capture and Storage (Bio-CCS) or Direct Air Carbon Capture and Storage (DACCS), if proven successful on a large scale, would require significant amounts of geological storage capacity for CO2.

The political debate on carbon storage has gained new momentum, particularly with the Net Zero Industry Act’s goal to achieve an annual injection capacity of 50 Mt of CO2 in strategic storage sites within the EU by 2030. In the Political Guidelines for 2024-2029, Ursula von der Leyen announced a new “Clean Industrial Deal” in the first 100 days to decarbonize industry, including scaling up investments in storage capacity and transport infrastructure for captured CO2, but these new technologies are always accompanied by conflicting goals and risks. 

The Öko Institut has conducted a comprehensive study assessing the environmental, technological, societal and political risks associated with geological storage of CO2. Building on this, the researchers have identified management practices and governance structures that can effectively manage and reduce these risks. Public confidence in long-term monitoring, science-based information, and the decision-making process regarding the deployment of CO2 storage are key factors that must be addressed through well-designed policies.

We would like to take this opportunity to invite you to an expert discussion at which the study will be presented. Join scientists, politicians and practitioners on the 6th of November 2024 to discuss which political and economic instruments could be used to promote safe and sustainable carbon storage.

You can follow the conference online on Youtube.

Panel:

• Stefanie Hiesinger - European Commission
• Christian Ehler (EPP/DE) - Member of the European Parliament (tbc)
• Agnieszka Baran – Orlen
• Martin Cames – Oeko Institut
• Camille Maury - WWF EPO

Moderator: Sonja van Renssen

 Agenda:

• Presentation of the Öko Institut Report on “Carbon Storage” Securing the Underground Managing the Risks of Carbon Storage through Effective Policy Design and Q&A 16:00 – 16:30

• Panel discussion on “How do we minimize risks of CO2 storage and what governance mechanisms are needed?” 16:30 – 17:30

• Networking reception 17:30-18:30

Contact: Corinna.Fuerst@Europeanclimate.org