Proposals for a Net Zero industry Act that will set the first-ever binding targets for the permanent underground storage of CO2 are a “long overdue but very welcome step”, according to Chris Davies, director of Carbon Capture and Storage (CCS) Europe.

Davies, a former MEP, said: "Europe’s ambition to reach net-zero emissions by 2050 cannot be realised without extensive deployment of carbon capture technology. It is the only viable option to prevent emissions from energy-intensive industry reaching the atmosphere.”

"The Commission’s proposal for CO2 storage is long overdue but still very welcome. By setting a legally binding target for the permanent storage of 50 million tonnes of CO2 by 2030, it provides the basis for a realistic European CCS deployment strategy.”

Europe will need to capture between 300 and 500 million tonnes of CO2 annually by 2050 to make its net zero targets a reality, according to European Commission estimates.

Davies is long-time activist for carbon capture and storage (CCS). He was rapporteur for the 2009 CCS directive, which provides for the safe and permanent storage of CO2.

Speaking about CCS Europe, Davies said that the coalition “has the support of companies in the cement, chemicals, lime and waste-to-energy sectors, as well as environmental NGOs. We will work with legislators over the coming months to strengthen the level of ambition for carbon capture in Europe.”

“Europe must catch up with the USA and provide global leadership in developing this essential technology," he added.