The Swedish government announced state support for BECCS (Bio-Energy with Carbon Capture & Storage) technology with an investment of SEK 36 billion, the equivalent to 3.3 billion USD. The decision comes in response to the national goal of zero net greenhouse gas emissions by 2045. Along with efforts to reduce greenhouse gas emissions, Sweden recognizes the necessity of BECCS in carbon dioxide removal at a large scale. The state support will be allocated during a 20-year period between 2026-2046, with the likelihood of additional funding in the future.
This impactful decision by the Swedish government falls in line with the findings reported by the Intergovernmental Panel on Climate Change. According to the IPCC, the total cumulative carbon removal with BECCS needs to be in the range of 30-780 gigatonnes of CO2 between the years 2020 and 2100 in order to successfully limit warming to within 1.5°C.
