Carbon Capture Vital for EU as Fossil Fuels to Stay, Draft Shows
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The European Union will seek to promote the deployment of technology to capture carbon dioxide to attain its climate goals as fossil fuels are to remain a part of the bloc’s energy mix, according to a draft EU document.
The price of carbon is too low to stimulate investment in carbon capture and storage, or CCS, and existing policy tools have so far failed to encourage the development of large-scale demonstration projects, according to the draft prepared by the European Commission, the EU’s regulatory arm in Brussels.