EU Commits €10 billion for carbon capture storage

The committee will finance €10 billion for 12 large scale commercial CSS demonstration projects through a revised version of the EU Emissions Trading Scheme in an effort to cut CO2 emissions.

The contracts for the 12 power stations will be agreed before the UN meeting in Copenhagen in November 2009.

The committee also introduced an “emission performance standard”, or “Schwarzenegger-clause” as it has been nicknamed, for power plants with a capacity of more than 300 MegaWatts. From 2015, thes

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