In March 2023 the European Commission introduced the Net Zero Industry Act, which proposes to establish a framework of measures to strengthen Europe’s net-zero technology products manufacturing ecosystem. The overall goal is to put Europe on a path to domestically manufacture at least 40% of its clean energy technology needs by 2030.
The Act identifies carbon capture, utilisation and storage (CCUS) as one of the eight strategic net-zero technologies for which scaling up manufacturing capacity is critical to reaching the EU's climate goals. Specifically for CCUS the Act proposes:
- Accelerating permitting and defining strategic net-zero projects: Requires the establishment of a “one stop shop” in each country to coordinate permitting of manufacturing projects, and sets detailed timelines for permitting procedures, with “strategic” projects given priority status.
- Increasing CO2 injection capacity: Sets an EU-wide goal to achieve an annual CO2 injection capacity of 50 million tonnes (Mt) by 2030. Notably, oil and gas producers will be asked to contribute to the 50 Mt target, calculated pro-rata based on each entity’s share in the EU's crude oil and natural gas production.