Published 19 July 2024 at 09.53
Domestic. The government has now decided on a regulation on state aid for the capture of carbon dioxide. It concerns the separation, transport and geological storage of carbon dioxide of biogenic origin – bio-CCS.
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Climate and Environment Minister Romina Pourmokhtari (L) announced the decision at a press conference on Thursday.
– Bio-CCS creates negative emissions that are needed to reach our climate goals. Today's decision is decisive for it to be worthwhile to invest in the technology. With this system in place, Sweden takes the lead in the work to remove carbon dioxide from the atmosphere. The decision constitutes a milestone in Sweden's transition towards net zero emissions by 2045 at the latest and negative emissions thereafter, she says.
Thus, according to the government, a decisive step is taken in getting a framework in place to be able to implement so-called reverse auctions to separate, transport and store carbon dioxide from facilities that burn biofuels.
The government has previously set aside SEK 36 billion in the years 2026 to 2046 for the support that can soon begin to be distributed. The contributions will be distributed through so-called reverse auctions. The regulation is designed so that it is compatible with the EU's regulatory framework for state aid. The European Commission gave its approval on July 2.
The potential for bio-CCS is, according to the government, “great”.
“But it is a technology that requires large investments. So far, it has lack of financial incentives to capture biogenic carbon dioxide,” the government writes on its website.