On 2 July, the European Commission made public its proposal for setting a 2040 climate target. It includes a net 90% greenhouse gas reduction goal by 2040 compared to 1990, including carbon removals, as well as new features accounting for international carbon credits with a 3% cap.
In a landmark moment for CCU, the proposal refers to zero and low-carbon energy solutions to deliver on that target, singling out in particular “renewables, nuclear, energy efficiency, storage, CCU, CCS, carbon removals, geothermal and hydro-energy”. As the representative of the European CCU community, CO2 Value Europe welcomes this inclusion of different technological levels to deliver on the 90% target.
The proposal will now be discussed in the European Parliament and the Council of the European Union, and negotiations are expected to focus heavily on the wording of the text, e.g., definitions of “residual emissions“ or “high-quality carbon credits“. We look forward to engaging with policymakers in the lead up to the final adoption of the target and its translation into legal provisions to support CCU scale-up.
Learn more here.
