Integrated approach across public and private sectors and appropriate policy framework
The utilisation of CO2 to produce chemicals, materials, fuels, and store renewable energy could be a key solution to reduce the use of fossil feedstock, reduce EU’s dependence on imports of fossil resources and improve security of supply of carbon feedstock while reducing pressure on biomass, land use and other environmental stressors.
The conversion of CO2 can be a key element for the development of a circular economy, and position Europe as leader in sustainable technologies. Therefore, the chemical valorisation of CO2 has the potential to contribute to our ability to meet ambitious policy targets, including the competitiveness of Europe.
Many specific activities related to CO2 utilisation have already been initiated at national and regional levels in Europe, and several European chemical companies are already working on the development of CO2 conversion technologies. However a more coherent and coordinated approach across Europe would be needed to complement the existing dispersed public and private efforts and create the critical mass for the next steps in this long term engagement. Successful deployment of CO2 valorisation technologies in Europe would benefit from an integrated approach across public and private sectors to address financial support for technology development, as well as non-technological barriers through an appropriate policy framework.