June 20, 2023
News

Carbon Removal in the NZIA: delivering a Net Zero Industry Act that is strategic, targeted and impactful

Carbon Gap and eight other organisations sign an open letter for a strategic, targeted and impactful Net Zero Industry Act

Key Takeaways

  • To foster the development of Europe’s cleantech and achieve climate neutrality, the scope of the NZIA should focus on the strategic sectors which are necessary to deliver net zero by 2050, which clearly includes carbon dioxide removal.
  • Developing carbon storage capacity at EU level will be a key element of the future growth of Europe’s net-zero industry. The target set by the NZIA proposal to achieve an annual injection capacity of 50 million tonnes of CO2 per year in the EU by 2030 is the first of its kind and provides an important signal of recognition for carbon capture and storage and carbon removal as critical tools to create a net zero European industry and achieve negative emissions.
  • The co-signatories call on EU co-legislators to preserve the CO2 storage target of 50 million tonnes CO2 by 2030 in the NZIA, together with the obligation on oil and gas producers to contribute to it.

The European Union has been the world’s first mover on climate change. Now, it needs to move faster and more assertively if it is to stay in the cleantech race. Carbon Gap and eight other organisations published an open letter, calling on the EU legislators to ensure that the proposed Net Zero Industry Act (NZIA) delivers the stable, predictable regulatory environment needed to attract investors and build up European cleantech manufacturing and promote carbon dioxide removal (CDR). Carbon Gap and 8 other organisations published an open letter calling on the EU integrate carbon removal in the NZIA. 

The other signatories are Airborne Wind Europe, Cleantech for Europe, Climate Strategy & Partners, EUREC, Institute for Climate Economics (I4CE), Jacques Delors Energy Centre, Negative Emissions Platform and Tech for Net Zero Allianz.