Dutch, Danish to intensify cooperation on carbon capture and storage

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🗞️ Driving the news: Denmark and the Netherlands have officially entered into a Memorandum of Understanding (MoU) with a primary focus on collaborating over carbon capture and storage (CCS) as well as CO2 transport
• This agreement was inked during the EU Environment Council meeting in Luxembourg

🔭 The context: While CCS technology captures and stores CO2 underground to support the EU's climate objectives, some critics worry it may allow industries to maintain their high-emission practices

🌍 Why it matters for the planet: Enhanced collaboration between countries on innovative technologies like CCS, which involves transporting and storing CO2 in unutilized oil and gas fields, can pave the way for a large-scale reduction in carbon emissions and potentially spearhead effective climate action in Europe

⏭️ What's next: Building on this MoU, Denmark and the Netherlands will work together on a unified European market for CO2 storage to bolster both the region's climate objectives and economic interests

💬 One quote: “In Denmark, we’re fortunate to have more storage space for carbon emissions than we emit, and the Netherlands have ambitious plans on the agenda with their hub projects – combining our forces and tying together the market will be essential to build up the industry and reach the EU-climate goals” (Lars Aagaard, Danish counterpart)

📈 One stat: The EU has set a bold objective: achieve a carbon dioxide injection capacity of 50 million tonnes yearly by the end of this decade

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