Critics say carbon capture and storage is unproven and not as effective as reducing emissions by switching to renewable energy.
The German Government will allocate 3.3 billion euros to decarbonize the industry. The money will fund projects to make the most carbon-intensive industries more climate-friendly, including carbon burial in marine facilities.
The new program is aimed primarily at medium-sized companies. Germanyhome to Europe’s largest economy and many energy-intensive industries, aims to reduce its emissions to zero by 2045.
Carbon capture and storage remains controversial
The German government announced in February that it plans to allow underground carbon storage in marine locations. At the time, Green Party member and Vice Chancellor Robert Habeck stated that the proposed “carbon management strategy” had yet to be turned into detailed legislation. Today’s announcements appear to solidify the strategy.
Its detractors maintain that the so-called carbon capture and storage (CCS) has not been tested on a large scale and has been less effective than other alternatives, such as solar and wind, in decarbonizing the energy sector.
However, a document filtered by ‘Euronews’ In January it stated that the EU supports carbon capture as it considers it essential to meet its goal of eliminating net greenhouse gas emissions. The document suggests that the Commission is studying the possibility of offering a series of political and financial aid to this controversial technique.
How will the new program work?
The German Ministry of Economy plans to launch the program next month, which also includes conversion projects towards more respectful production with the weather.
Companies will then have three months to present projects with a view to possible help. The program is scheduled to extend until 2030, with annual tenders.
The Government has already launched a “carbon contracts for difference” programme, aimed at helping to switch to more climate-friendly production methods.
