EU Plans Big Scale Up of Carbon Removals to Reach Climate Neutrality
- EU to unveil industrial carbon management strategy next month
- Carbon removals will be part of Europe’s 2040 climate target
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The European Union will need to capture emissions equivalent to those of Poland and Denmark combined to reach its ambitious climate targets, according to bloc estimates.
By 2050, as much as 450 million tons of carbon dioxide a year will need to be captured, according to a blueprint drafted by the European Commission. For comparison, global carbon capture and storage capacity — the most advanced method of trapped and using emission — was just 50 million tons in 2022, according to BloombergNEF.