Big Oil drags its feet over CO2 storage mandate

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Euractiv or enjoy below:

🗞️ Driving the news: Major oil companies are showing minimal compliance with a new EU law requiring the storage of carbon dioxide, despite facing legal challenges against the mandate
• Industry observers warn that delays in CO₂ storage could undermine the bloc’s emissions-reduction targets

🔭 The context: The EU law is designed to hold petroleum majors accountable for capturing and permanently storing CO₂ emissions from their operations
• However, several companies have initiated court proceedings, arguing the rules exceed regulatory authority or are technically unfeasible, leaving enforcement in limbo

🌍 Why it matters for the planet: Failure to implement mandated carbon capture and storage threatens Europe’s ability to achieve climate neutrality
• CCS is a critical tool for hard-to-abate sectors, and slow compliance increases the risk of continued greenhouse gas emissions in line with fossil fuel operations

⏭️ What’s next: The EU’s regulatory authorities are urged to decide whether to escalate enforcement or wait for court rulings
• Meanwhile, delays could affect investor confidence in the region’s energy transition and impact the pace of green infrastructure deployment

💬 One quote: “Petroleum majors are showing little sign of complying while challenging the law in court.” — Euractiv reporting

📈 One stat: The law applies to the largest carbon emitters in the EU, which together account for a significant share of industrial CO₂ emissions

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