Carbon removal To prevent the worst impacts of climate change, we need to remove more CO2 from the atmosphere than we are releasing. As a complementary tool to actual emissions reductions, carbon removal is essential for reaching the 1.5-degree target set out in the Paris Agreement. Why do we need carbon removal? One of the key goals of the Paris Agreement is to achieve a balance in the second half of the century between human-caused greenhouse gas emissions by source and greenhouse gas emissions removals by sinks. To prevent the worst impacts of climate change, emissions reductions must be ramped up – this is the clear number one priority. However, it is simply not enough to limit CO2 emissions; we must also go CO2 negative by taking CO2 out of the atmosphere and storing it. The world needs to reach net-negative emissions, which means that we must remove more carbon dioxide from the atmosphere than we are releasing. This will involve methods – both natural and technological – that remove CO2 from the atmosphere or flue gases and sequester it for long periods. Carbon removal is an essential part of the lowest-cost path towards meeting the Paris Agreement goals. Fortum is working to make the technology and systems needed to do this efficient and profitable. Carbon capture and storage (CCS) Carbon capture and storage (CCS) is one of the most important methods to reduce CO2 emissions. CCS is the process of capturing CO2 and then storing it so that the carbon doesn't end up in the atmosphere. Fortum is at the forefront of the utilisation of carbon capture technology. We are working hard to implement carbon capture at Fortum Oslo Varme's waste-to-energy plant in Oslo. Furthermore, through the Northern Lights partnership with Shell, Total and Equinor, we aim to safely store the CO2 under the seabed in the North Sea. Bio-CCS creates negative emissions One of the unique qualities of the project in Oslo is the ability to capture and store carbon from biological sources, like biomass or waste sludge. This provides a double climate benefit: Emissions from the combustion of fossil fuels are prevented and the CO2 contained in the biological material is captured, thereby removing CO2 from the atmosphere. We call this Bio-CCS. It is the most cost-efficient way of removing CO2 from the atmosphere. The Intergovernmental Panel on Climate Change confirms that CCS in general and the "CO2 negative emissions" enabled by Bio-CCS in particular are crucial for reaching the 1.5-degree target set out in the Paris Agreement. In fact, most climate scenarios show that we’ll need to remove billions of metric tonnes of carbon dioxide annually, while also ramping up emissions reductions. The pioneering work on CCS done in the Nordics also lets the Nordic countries take a leading role in what will develop into a global industry. We can provide the unique expertise the world will need for the carbon capture from industries, which will remain crucial in the future. Our waste treatment and heat production facilities are examples of such industries. The world will still need waste treatment and heat production in the future, and we must find ways of making these industries not only carbon neutral, but also carbon negative. Legislative framework for carbon removal needed Technological carbon removal solutions are not sufficiently recognised in the current EU climate legislation. In order to make carbon removal and negative emissions technologies commercially viable and to upscale them, they should be integrated into legislation and incentivised, preferably by market-based tools like carbon pricing. The revision of the key climate legislation (emissions trading directive, effort sharing regulation and LULUCF regulation) in 2021 in the framework of the European Green Deal is a key opportunity to establish a legislative framework for carbon removal. The development of a regulatory framework for the certification of carbon removals in connection with the Circular Economy Action Plan is also an important step forward. More information Fortum Oslo Varme and our Carbon Capture Project Read the fact sheet Puro – the world’s first voluntary carbon removal marketplace for businesses One of the challenges of developing solutions for CO2-negative emissions is that there is no financial incentive for reducing CO2 in the atmosphere. The EU’s Emissions Trading System (ETS) ensures that some sectors pay a fee for emitting CO2. However, there is no system of payment for reducing the amount of CO2 already in the atmosphere. That is the reason why we developed Puro.earth, a marketplace for trading CO2 negative emissions. The purpose of the marketplace is to help companies reach carbon net-zero by making CO2 removals verified, comparable and tradable. Puro.earth issues CO2 Removal Certificates (CORCs) to companies that supply CO2 removal as part of their business. Each CORC represents one tonne of CO2 removed for the long term, and the CORCs can be sold to companies that want to offset their CO2 emissions with factual removal. This lets companies remove carbon no matter what their business is, while operations that have verified CO2-negative emissions can expand their business because of the financial incentive provided by selling their CO2 Removal Certificates. Earth globe Puro.earth – neutralising emissions with carbon removal Visit puro.earth website Environmental friendly How can carbon removal help companies become carbon neutral ForTheDoers blog Read the blog post Did you find what you were looking for? 4 responses Yes Partly Not at all Back to top You are here: Fortum Newsroom Press kits Carbon removal Carbon removal About us This is Fortum Strategy Open positions Our energy production Fortum worldwide Covid-19 information Services Fortum Battery Solutions Turbines and generators Power plant O&M and performance Find charging stations Fortum Circo® Recycled Plastics Licensing and safety design Investors In focus Reports and presentations Share information Calendar and events Corporate governance Contact us Our offices Media contacts Investor Relations Supplier inquiries Sales contacts Give feedback Raise a concern Follow us on social media Legal information Data privacy and cookies Legal Notice © Fortum 2021. 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