• Below 2°C scenarios from the IPCC, IEA and the European Commission show that CCS will be essential to meet the Paris Agreement goals.
• CCS is a proven technology: first operations started in 1972 as Enhanced Oil Recovery (EOR) projects1 and there are now 18 commercial projects in operation globally2.
• Geological storage potential for CO2 in Europe is around 134 GtCO2, taking into account storage restrictions in some Member States. This is equivalent to 446 years’ worth of CO2 storage at the rate suggested necessary in 2050 by the European Commission3.
• Extremely low risks of CO2 leakage, with the IPCC estimating 99% containment over 1000 years for well-selected storage sites4.
• The EU is well-placed to benefit from CCS thanks to its ample storage capacity, extensive offshore pipeline infrastructure, and numerous industrial clusters.
• The EU should incentivise deployment and scale-up of CCS infrastructure to meet its climate objectives on time.