EU funding gap puts CCS on the backburner

14th January 2013


Related Topics

Related tags

  • Energy ,
  • Mitigation ,
  • Conventional



The omission of carbon capture and storage (CCS) projects from the first tranche of programmes to receive money from the EU's NER300 fund has raised concern that Europe is falling behind in the race to develop a viable CCS industry

The European Commission says it did not consider CCS projects for NER300 funding because member states had failed to provide sufficient financial guarantees for most of the projects, including three from the UK.

“In some cases there were funding gaps, while in others the projects were not sufficiently advanced,” it said.

The commission had made €275 million available for CCS projects in the first allocation of NER300 funds. It said the money will remain available for such projects, and pledged to proceed swiftly with the implementation of a call for new funding proposals.

However, the European CCS industry, which had called on the commission to hold off making a decision on whether to help finance CCS projects in the first round of funding, believes the withdrawal of support will further delay the meaningful demonstration of the technology in Europe.

The latest status report from the Global CCS Institute on the deployment of CCS technology reveals that Europe is lagging behind its major competitors. Of the eight large-scale integrated projects under construction around the world, all but one are located in North America – four in the US and three in Canada.

Meanwhile, the International Energy Agency has warned that high costs and a lack of incentivising policies are delaying deployment of CCS, and has called on governments to take action in 2013.


Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.

Transform articles

How much is too much?

While there is no silver bullet for tackling climate change and social injustice, there is one controversial solution: the abolition of the super-rich. Chris Seekings explains more

4th April 2024

Read more

One of the world’s most influential management thinkers, Andrew Winston sees many reasons for hope as pessimism looms large in sustainability. Huw Morris reports

4th April 2024

Read more

Alex Veitch from the British Chambers of Commerce and IEMA’s Ben Goodwin discuss with Chris Seekings how to unlock the potential of UK businesses

4th April 2024

Read more

Regulatory gaps between the EU and UK are beginning to appear, warns Neil Howe in this edition’s environmental legislation round-up

4th April 2024

Read more

Five of the latest books on the environment and sustainability

3rd April 2024

Read more

Ben Goodwin reflects on policy, practice and advocacy over the past year

2nd April 2024

Read more

In 2020, IEMA and the Institute and Faculty of Actuaries (IFoA) jointly wrote and published A User Guide to Climate-Related Financial Disclosures. This has now been updated to include three key developments in the field.

2nd April 2024

Read more

Hello and welcome to another edition of Transform. I hope that you’ve had a good and productive few months so far.

28th March 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close