The European Commission (EC) has come up with a proposal to reduce carbon dioxide emissions from fossil fuels by 90% by 2040 compared to their volume in 1990. This is quite an ambitious goal, and the EC has already faced a strong reaction and sharp criticism in this regard, including for its lack of specificity and lack of a clear plan.
The new EC plan to reduce carbon emissions has been criticized by many, including environmental groups. They highlight the vagueness and vagueness of the plan, stressing that it mentions phasing out coal, but no strategy to achieve the same with oil and gas.
Looking at this plan in a little more detail, it should be noted that the EU hopes to reduce part of its emissions by 2040 through carbon capture and removal. In this regard, Europe has set itself a huge goal of being able to store 280 million metric tons of captured carbon dioxide per year by 2040. On the other hand, by 2030, the EU should be able to store 50 million metric tons of carbon dioxide per year.
For context, it should be noted that currently around 20 plants around the world are designed to filter CO2 from ambient air. Last year, they were able to capture less than 0.01 million tons of carbon dioxide. It is also a very expensive process – filtering one ton of carbon dioxide costs around 600 US dollars.