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The road to a net-zero emissions future varies among European countries. One theme, however, remains a constant: Carbon Capture, Utilization and Storage (CCUS) is necessary to mitigate hard-to-abate emissions as a part of the portfolio of available decarbonization technologies. At a European level, CCUS has been identified as a strategic net-zero technology. To ensure its deployment at its fullest potential, it's important to design a framework that ensures the large-scale implementation of the full value chain for all sectors.
There have been substantial efforts and actions undertaken at a European level to deploy carbon capture technologies. To maintain momentum, however, it's crucial that we continue to push its deployment forward quickly.
GE Vernova fully supports these initiatives taking place across Europe, which are the culmination of long-term efforts that can provide a framework for CCUS technology in the energy transition. Our vision is grounded in our experience as a provider of integrated decarbonization technologies, both in pre and post-combustion. The urgency of climate change requires bold action and a comprehensive plan including all available technologies.
GE Vernova believe that a European strategy for CCUS deployment should have three main pillars:
1. Recognize the strategic need for CCUS in the energy transition for industry & power.
2. Facilitate the deployment of CCUS through funding and specific business models.
3. Implement cross-border coordination for CCUS value chains.