CO₂ Value Europe Calls on the Commission to Reduce GHG Emissions by 2040 & Include CCU Targets to Defossilise the Economy
On the 23rd of June 2023, we submitted our response to the EU consultation for climate targets for 2040. We are calling on the EU to set a target to reduce by at least 80% GHG emissions in Europe by 2040 compared to 1990 levels and to reflect systematically the role and contributions of carbon capture and utilisation (CCU) to defossilise the EU economy in legislations, EU-funded projects, and EU climate goals.
We have articulated our response around two key ideas: we need Europe to build on existing achievements (e.g., from the Fitfor55 package) to accelerate the climate transition, and further GHG reduction targets should go hand-in-hand with appropriate support to clean technologies deployment including CCU.
In particular, we call to support the building of a circular carbon economy by upscaling CCU fuels production for hard-to-abate sectors, incentivising CO₂ mineralisation projects to reduce industrial emissions when CO₂ is captured at point sources, removing carbon from the atmosphere when using biogenic or atmospheric emissions, and contribute to building a more circular economy. In addition, we call to create legally-binding provisions to defossilise the production of chemicals through CCU to drive the replacement of fossil feedstocks by renewable carbon.
Please find our response here.
