Austria: Reducing carbon dioxide emissions is not enough to achieve climate goals

  By Mohamed Ragab, CNN Week

Updated 02:16 AM  August 28, 2023

On Sunday, Austrian Finance Minister Magnus Brunner announced the launch of a "national strategy for carbon management," stressing that the ability to store, process, use and transport carbon dioxide is important for local companies and helps them provide jobs and develop work systems.

The Minister of Finance said, in statements, that reducing carbon dioxide emissions is not sufficient to achieve climate goals, but that what is required is a new concept to reduce greenhouse gas emissions.

The minister stated that between five and ten million tons of carbon dioxide must be stored annually in order to achieve the Austrian goal of climate neutrality cost-effectively, considering that this is particularly important for energy-intensive industries.

The minister noted that CO2 storage is still currently prohibited in Austria, but transportation options to other EU countries should also be considered.

The minister indicated that on September 13, the issue of climate neutrality will be discussed during a meeting with business leaders, politicians, social partners, non-governmental organizations and experts from several universities. Representatives of the ministries of climate protection, labor and economy, the Federal Chancellery and the Federal Environment Agency will also participate.