Following the EU Gymnich talks that David Lammy, UK Foreign Secretary, attended in Poland today, the CCSA urges Ministers to include energy and products security at the UK-EU Summit on 19 May alongside defence.
Ahead of the EU Summit, CCSA CEO, Olivia Powis, said:
“Carbon Capture Utilisation and Storage (CCUS) has a critical role to play in delivering a reliable low-carbon energy system alongside renewables, while future-proofing our industries such as cement, glass, chemicals and refining by decarbonising their operations and safeguarding thousands of jobs across UK and Europe.
But to do so, policymakers on both sides of the Channel must work together and commit to unlocking the considerable shared benefits of a Europe-wide CO₂ storage market.
With over a third of Europe’s CO₂ storage capacity, the UK is well positioned to support emitters across the EU and EEA – reducing average storage costs for emitters by 20%, rising to 28% for emitters in the EU-27 countries.
Yet regulatory and policy barriers delay progress and lock emitters into higher storage costs. By agreeing mutual recognition of CCUS regulatory frameworks under the Trade and Cooperation Agreement, governments can enable a cost-effective CO₂ storage market. The CCSA calls on the UK Government and European Commission to commit to removing barriers to cross-border CO2 transport and storage at the UK-EU Summit so that all industrial emitters across EU Member States, other EEA countries and the UK can benefit from CCUS.”