"How to make CCS Happen" - ICM Forum side event hosted by CCS Europe & Zero Emissions Platform
On 11 October during the second day of the hottest CCS event on the calendar, the ICM Forum, CCS Europe and the Zero Emissions Platform held an in-person breakfast event seeking to identify what is needed to make sure that CCS happens. With opening remarks from Chris Davies, and ZEP's Eadbhard Pernot moderating the panel, we had high hopes from the start - and they were definetely met.
We were lucky to have an impressive panel of speakers, including Fred Lockwood from OCEOS, Luciana Miu from NGO EPG, and DG CLIMA's Maria Velkova. Leveraging the insight of industry, NGOs and policymakers, the core of our discussion was the importance of raising political awareness, bringing in new actors (such as financing institutions and banks) to de-risk investments and the key role of Member States for the advancement of CCS.
Fred Lockwood said that despite industry having confidence in the effectiveness of CCS technologies, they still need certainty around the regulatory framework and more political support on de-risking investments to unlock its full possibilities.
Luciana Miu from EPG underscored that CCS needs to be recognised not just as a tool for addressing climate change, but also as a driver of competitiveness and job preservation. It's crucial for Member States to develop and implement strategies, as this sends a strong political signal. Once a strategy is in place, it becomes difficult to reverse course. We also need a clearer understanding from the EU Commission regarding CCS, particularly its socio-economic implications, especially in Eastern Europe.
Maria Velkova from DG CLIMA emphasised that in many cases CCS seems too remote and abstract to fully understand, making public and political momentum hard to secure. However, if industry starts shutting down, the impact of not applying CCS at scale becomes more visible. This means that it is crucial to raise awareness of CCS at all levels, ensuring that it is not held back by the sense that it is an opaque and complex technology.