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Recognising the importance of CCUS in a decarbonised future, the European Zero Emission Technology and Innovation Platform (ZEP) was founded in 2005 as a coalition of stakeholders with a shared recognition of the role of CCUS as a tool to combat climate change.
spoke to the Chairman of ZEP, Graeme Sweeney, about the current practices for carbon capture, utilisation and storage, and how Europe can achieve further decarbonisation.
Ultimately, we hope to see a functioning marketplace where innovation happens without intervention, such as that currently being overseen by Horizon 2020.
Framework Programme 9, the successor to Horizon 2020, looks at early-phase technological matters and seeks to provide impetus when required, such as when commercial marketplace funding is not available.
Ultimately, we should have a smart pathway where we are encouraged by the ongoing work at low technological readiness levels, with the view to see them feed into other, larger funding mechanisms.
We fully support the ETS and indeed we’re amongst the first to argue that the ETS could be used as a source of funding to enable technologies to be delivered.
We argue that this is actually one of the core purposes of the ETS – it has two purposes: Given that carbon prices remain relatively low, it has been much less effective at the second objective.
But rather a better strategy could look into public funding, focusing on the interests of the public, particularly in infrastructure and not a specific capture project.
Capture projects are significant, however that is not the public good.