The European Parliament ITRE Committee has adopted a report on the Net-Zero Industry Act (NZIA), strengthening the implementation of carbon capture technologies in the EU. The report adds carbon dioxide removal (CDR) to the list of net-zero technologies in the scope of the Act, facilitating permit-granting processes, access to financing, and funding for carbon removal projects. It confirms the EU's annual CO2 injection capacity target of at least 50 million metric tons by 2030 and calls for all fossil fuel suppliers to contribute to CO2 storage. The NZIA aims to expand the EU's manufacturing capacity in clean technologies and ensure that at least 40% of the EU's annual deployment needs in strategic net-zero technologies are met by 2030. While some environmental organizations welcomed the report, others expressed concerns about including unproven technologies and unclear financial responsibility for CO2 storage infrastructure.

Source: Carbonherald