{"id":15202,"date":"2015-06-16T08:01:35","date_gmt":"2015-06-16T08:01:35","guid":{"rendered":"https:\/\/www.lse.ac.uk\/granthaminstitute\/?post_type=publication&p=15202"},"modified":"2024-08-19T14:29:52","modified_gmt":"2024-08-19T13:29:52","slug":"bridging-the-gap-improving-the-economic-and-policy-framework-for-carbon-capture-and-storage-in-the-european-union","status":"publish","type":"publication","link":"https:\/\/www.lse.ac.uk\/granthaminstitute\/publication\/bridging-the-gap-improving-the-economic-and-policy-framework-for-carbon-capture-and-storage-in-the-european-union\/","title":{"rendered":"Bridging the gap: improving the economic and policy framework for carbon capture and storage in the European Union"},"content":{"rendered":"\n

Headline issue: a gap between CCS ambition and reality<\/h3>\n

To meet climate change targets, European Union (EU) countries need to significantly increase investment in carbon capture and storage (CCS) and show greater urgency to develop and deploy the technology. Installing 11 GW of CCS electricity generation in the EU by 2030, as envisaged by the EU Energy Roadmap, could cost between €18 and €35 billion. Current policies, including those envisaged by the 2030 framework for climate and energy and the emerging Energy Union, are unlikely to deliver this investment. A new European strategy is needed to increase ambition and accelerate action on CCS.<\/p>\n

Key findings: a European strategy for CCS<\/h3>\n

A European strategy to increase ambition and accelerate action on CCS should deliver the following:<\/p>\n

1. Stronger policies to incentivise CCS<\/strong><\/p>\n

The European Union emissions trading system (EU ETS) alone will not provide a sufficient incentive to invest in CCS over the next decade. Complimentary policies will be required, including:<\/p>\n