Financial Times FT.com

Europe backs carbon capture with €10bn

By Joshua Chaffin in Brussels and Ed Crooks in London

Published: October 7 2008 22:13 | Last updated: October 7 2008 22:13

European legislators have committed about €10bn ($13.6bn, £7.7bn) to help build as many as a dozen power stations equipped to capture and store carbon dioxide, throwing its weight behind a technology that supporters say has immense potential to curb greenhouse gases.

The European parliament’s environmental committee brushed aside concerns about financial turmoil to back the unproven technology, in a narrow vote in favour of a package that would make Europe a global leader in cutting emissions.

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