With the Net-Zero Industry Act, the European Commission will reduce administrative burdens and simplify permitting processes for renewable energy projects, accelerate the deployment of carbon capture and storage, and improve conditions for investing in net-zero technologies.
As part of the new law, the European Commission has presented targets for a CO2 injection capacity of 50 million tonnes per year by 2030.
“Europe has historically been at the forefront when it comes to green innovative solutions, but now is the time to act if we want to continue to play a vital role in the green transformation of our world,” commented Anne Steffensen, Director General and CEO at the Danish shipping. The proposed regulation now needs to be discussed and agreed by the European Parliament and the Council of the European Union before it can be adopted and come into force.
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