EU to have third attempt at financing CO2 storage

The European Parliament is due to vote on legislation on Tuesday (6 February) which would set up a potentially multi-billion euro fund to support projects in the field of innovative renewable energy, carbon capture and storage (CCS), and recycling CO2 as a resource.

However, the final criteria of the fund will be decided by the European Commission, in a legal act which MEPs would only have the power to veto or rubber-stamp.

The 'Innovation Fund' will be deployed to give an incenti...