Climate|The EU Commission just approved Sweden’s plan to pay carbon dioxide collectors three billion euros.
The summary is made by artificial intelligence and checked by a human.
Sweden is ahead of Finland in capturing carbon dioxide.
The Swedish state will pay three billion euros for the recovery of carbon dioxide over 20 years.
The project focuses on biogenic coal and pipes from the forest industry.
The Finnish government has set aside 140 million euros to promote the topic.
Swedish is ahead of Finland in the technical capture of carbon dioxide, i.e. “plugging the chimneys”, which is one of the most important climate promises of the Finnish government.
EU Commission announced on Tuesday that he had accepted Sweden’s project worth three billion euros, in which the Swedish state undertakes to pay for the capture of carbon dioxide over 20 years.
Sweden pays for the recovery through a reverse auction: the money gets the one who commits to the recovery and storage of carbon dioxide at the lowest price per ton.
The project is scheduled for the years 2026–2046. In the project let’s focus on biogenic carbonwhich means that in practice carbon dioxide would be captured mainly by factories in the forest industry.
In Finland, the government and the Minister of Climate and Environment Kai Mykkänen (kok) have kept the “plugging of the pipes” on display a lot. Even in Finland, the greatest hopes are directed towards the pipes of the forest industry.
The Finnish government has set aside 140 million euros for the promotion of the topic for the duration of the four-year government term.
If carbon dioxide were to be collected from the ends of the pipes in Finland, one of the first implementers would probably be Metsä Fibre’s Kemi pulp mill.
In projects it’s about so-called technical carbon sinks. It means that carbon dioxide is collected from the end of the factory chimney and transported to a permanent storage.
When carbon dioxide is captured and stored in the forest industry, a situation can be reached where the amount of carbon dioxide in the atmosphere decreases when new carbon is bound to growing trees.
There are two big obstacles in the way of the idea becoming more common: the lack of financial incentive and the limited number of permanent warehouses.
Sweden solves the first of these challenges with its reverse auction. In addition, the Swedish government intends to pay for the mapping of storage possibilities in the country.
For the time being, it is planned to ship Sweden’s carbon dioxide to the Norwegian coast to gas fields drained to the bottom of the sea. Technical carbon sinks are at least even more expensive than many natural carbon sinks.
Finnish Climate Panel supports the urgent promotion of technical carbon sinks however, adding that “under the guise of technological sinks, other climate measures should not be slowed down or emission reductions left undone”.
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