Conclusions & recommendations

  • Global effort to mitigate climate change below 2 °C requires near zero greenhouse gas emissions by 2050. The EU and Fin-land have set targets to reduce GHG emissions by at least 80% compared to 1990 emission levels.
  • One third of the above targeted reduction of greenhouse gas emissions in Finland by 2050 could be achieved cost-effectively with CCS
    • Biomass-related CCS applications represent the main part of this potential (over 80%), while CCS applica-tions in carbon intensive industries stand for the rest.
  • Excluding CCS from the technology portfolio in Europe for re-ducing greenhouse gas emissions more than doubles the es-timated price of emission allowances by 2050.
  • Most technologies for CCS are ready for application but cur-rently there are no financial motivations to reduce CO2 emis-sions. Financial support for early application of CCS in Europe is needed to ramp up the CCS deployment.
  • Demonstration of CCS in Finland for combined heat & power plants combusting biomass and peat as well as for pulp and paper plants is recommended
    • Most of the potential for cost-effectively applying CCS in Finland is related to this sector
    • Early application of bio-CCS in Finland provides cost-efficient GHG mitigation option and thus a business opportunity for emission allowance export
    • Bio-CCS is an opportunity for Finnish technology and service export (e.g. fluidized bed boilers, hot solid looping reactors, emission measurement)
    • Demonstration of CO2 hubs in Europe and intermedi-ate storage in Finland is also of importance
  • In order for bio-CCS to be applied, the benefit from the nega-tive net emissions of bio-CCS needs to be acknowledged and accounted for in the EU ETS and other climate policy frame-works.
  • Utilisation of CO2 will not directly have much effect on reduc-ing CO2 emissions. However, combined with renewable ener-gy systems it could be a route for providing carbon neutral fuels, chemicals and other products in the future.
  • Certain concepts for utilisation of CO2, like converting slags and ashes into more valuable products by CO2 mineralization, already seem commercially viable.