EU Targets for CCS Funding Require Billions for Cement, Gas, and Waste-to-Energy Sectors
A study from the Energy & Strategy School of Management at Politecnico Milanese indicates that significant funding is necessary for Carbon Capture and Storage (CCS) to be viable. The EU has set binding CCS targets as part of its climate strategy, similar to its push for new nuclear power plants.
The study outlines potential funding needs: €7.1 to €13.2 billion over 10 years for the cement sector, €7 to €13.7 billion over 15 years for the gas power sector, and €5.8 to €13.2 billion over 15 years for the waste-to-energy sector. Revenue from the sale of ETS certificates is proposed for financing, which could hinder investments in alternative technologies, energy efficiency, and renewable energy. Additionally, the study emphasizes the need for significant changes to existing legal frameworks to meet the EU's 2030 CO2 reduction targets, which may not be realistically achievable.
