Further to our report of June 22, Europe is making overtures to help China develop CCS technology in an effort to slow global warming, and perhaps bolster chances for a global climate change treaty in Copenhagen. The EU-China Ne ar Zero Emissions Coal (NZEC) proposal will initially tap into about €50 million of existing EU development funding, but will also seek support from industry and taxpayers. The proposal suggests that even if China institutes a carbon market, a typical 400MW coal-fired power plant would still face a funding shortfall of up to $760 million for CCS installation.
Editor’s Note: We’ll be watching this one closely for further developments. (Source: Reuters, June 25, 2009).
Contact: Eric Drosin, Director of Communications, Zero Emissions Platform, edrosin@zero-emissionplatform.eu, www.zero-emissionplatform.eu; Stavros Dimas, Commissioner for Environment, European Commission, stavros.dimas@ec.europa.eu, ec.europa.eu/commission_barroso/dimas/index_en.htm.