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illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: Carbon capture and storage (CCS), long criticized as a fossil fuel industry “delay tactic,” has become central to Europe’s climate plans, bolstered by lobbying efforts and EU policy shifts
• There are 50 commercial CCS facilities worldwide, capturing just 0.1% of global CO₂ emissions in 2023
• Despite this limited impact, the EU aims to scale CCS drastically, planning to capture 450 million tons of CO₂ annually by 2050
🔭 The context: CCS began as a tool for enhanced oil recovery in the 1970s, with early projects like Norway's Sleipner gas field focusing on emissions reduction
• Recent interest in CCS has surged due to the EU’s net-zero commitments and competition with U.S. investments spurred by the Inflation Reduction Act
• Critics argue that CCS shifts focus from cutting emissions at the source and risks becoming a diversion from renewable energy investments
🌍 Why it matters for the planet: While CCS could mitigate hard-to-abate industrial emissions, its over-reliance risks delaying genuine climate action and locking in fossil fuel dependency
• Large-scale CCS deployment requires significant infrastructure, including pipelines and storage facilities, raising environmental and safety concerns
• Public skepticism and the potential misuse of CCS as a greenwashing tool remain major challenges
⏭️ What's next: The EU plans a "massive scale-up" of CCS, relying on public funding and legislative support to drive adoption
• Industry lobbying will continue to influence EU policy, but the technology’s economic viability and public acceptance remain uncertain
• Critics emphasize prioritizing renewable energy and emissions reductions over speculative CCS solutions
💬 One quote: “CCS, the industry’s lifeline and latest delay tactic, is a smokescreen we must not fall for,” said Lili Fuhr, Center for International Environmental Law
📈 One stat: The EU’s CCS plans aim to capture 450 million tons of CO₂ annually by 2050, a sharp increase from its current capacity of 1 million tons per year
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