To reach the climate and energy goals for 2030 and 2050, the Climate Target Plan sets out that massive investments are needed. The EU will need to invest € 350 billion more every year between 2021 and 2030 than it did between 2011 and 2020.[1] The European economic response to COVID-19 offers a unique opportunity to accelerate the transition to a climate-neutral economy.
According to the EU Climate Target Plan, full decarbonisation of industry after 2030 will require a wide range of zero or very low carbon technologies and business concepts such s system integration, hydrogen or carbon capture, utilisation and storage. In order to meaningfully contribute to European and global climate objectives, CCS technology will need to be developed and rolled out at scale in this decade. This joint event by CEPS and the Ministry of Petroleum and Energy of Norway will discuss how to accelerate development and deployment within the ‘Fit for 55-package’. Particular reference will be made to recent projects supported by the Norwegian government such as the full-scale CCS-project Longship.
[1] Climate Target Plan. Stepping up Europe’s 2030 ambition. Investing in a climate-neutral future for the benefit of our people. COM (2020) 652; p. 4.
This event is organised in partnership with the Norwegian Ministry of Petroleum and Energy.
More speakers to be confirmed.
