EU May Pump €8 Billion into Carbon Capture and Storage

The European Commission has this week disclosed that it may direct up to €8 billion ($11.3 billion) into projects for carbon capture and storage (CCS) in a bid to reduce future greenhouse gas emissions (GHG) across the region.   Prior to this week the European Union (EU) had already pledged to invest more than €1bn in CCS raised via public channels. The additional money would come from income raised by the next phase of the region’s Emissions Trading Scheme (ETS) starting in 2013, which would require some manufacturers to purchase their...

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