According to the latest climate protection report from the Federal Environment Agency, Austria will not meet its 2030 climate targets – and it is clear: greenhouse gas emissions would then amount to 42 million tonnes of CO2 equivalents – which would be twelve million more than planned. Additional efforts must therefore be made and new technologies may have to be applied. In this context, Finance Minister Magnus Brunner (ÖVP) calls for a reconsideration of the current ban on geological CO2 storage.
Storing or being able to recycle and use CO2 thus becomes a location advantage Brunner, who is also the minister responsible for raw materials, during an expert meeting at the Ministry of Finance on Monday. “The money is there, we will take care of it. By 2026, we will invest almost five billion euros in ecological transformation,” said the minister.
Brunner wants a ‘thematic focus’ in the climate plan
The ÖVP politician wants to ensure that the national energy and climate plan, which will be sent to the European Commission this year, “also includes a thematic focus on storage and use”.
Carbon Capture and Storage (CCS) involves capturing carbon dioxide (CO2) from power plants and industrial plants, transporting it to a storage site and injecting it into a suitable geological structure for permanent storage. When we talk about “Carbon Capture and Utilization” (CCU), we mean capturing, transporting and subsequently using CO2.
Expert locates low risk of storage
The risk of CO2 storage is minimal, said Oliver Geden of the German Science and Politics Foundation during the discussion as part of the series “Finanz im Dialog”. The biggest risk would be leakage, Geden explained. “You could casually say that storing CO2 in trees is potentially riskier in the long run than storing CO2 geologically.” The health risk of the escape of stored CO2 is also overestimated.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
