Finland and Denmark agree on framework for CO₂ transport and storage

In line with Finland’s Government Programme, Finland promotes the introduction and use of engineered carbon removals (CDR) through several measures. The Memorandum of Understanding (MoU) between Finland and Denmark was signed in connection with the informal meeting between energy ministers on 5 September. 

Engineered carbon removals, also referred to as technical sinks, include solutions where CO₂ is captured directly from industrial chimneys, for example, and stored in geological formations. In Finland, several projects are currently under way to promote the capture and use of CO2, especially biogenic carbon.

Along with certain international agreements, the MoU between Finland and Denmark enables companies to transport CO₂ from Finland to Denmark for storage. 

Denmark has taken significant steps in the development of carbon capture and storage (CCS) in Europe, having awarded 7 exploration licenses both offshore and onshore, and established the legal framework. 

“Promoting solutions for CO₂ capture is one of the key themes of the Government’s climate policy. The Memorandum of Understanding with Denmark is an important step for Finland towards the large-scale implementation of carbon capture and cross-border storage solutions,” says Finnish Minister of Climate and the Environment Sari Multala.

“Carbon capture and storage can remove some of the emissions that are hard to abate, making it an essential climate tool. However, we need the industry to grow and spread across countries to reap the full benefits. The arrangement with Finland is progress for both our countries, and I look forward to our cooperation,” says Danish Minister for Climate, Energy and Utilities Lars Aagaard. 

A corresponding MoU between Finland and Norway was also signed in connection with the informal meeting between energy ministers.