FETSA welcomes European Commission’s recommendation on EU climate target for 2040

The Federation of European Tank Storage Associations (FETSA), the trade body representing the bulk liquid storage sector in Europe, has welcomed the European Commission’s ambition to accelerate the energy transition through the adoption of a 90% GHG emissions target in 2040.

Ravi Bhatiani, Executive Director of FETSA, issued the following comment in response: We welcome the European Commission’s recommendation for a 90% emissions reduction target for 2040. The bulk liquid storage sector, an essential partner in the energy transition, is firmly focused on the future and on driving change as it looks to the import, production, storage and transport of new energy alternatives in the journey towards carbon neutrality.

 “As we look to the future, in line with the Intergovernmental Panel on Climate Change (IPPC) Synthesis Report, all options should be considered. The Synthesis Report clearly demonstrates that it is possible to limit global warming to 1.5°C by setting strategic goals and by relying on feasible, effective, and low-cost mitigation and adaptation options that are already available across sectors and countries.

“In seizing the opportunities necessary to succeed, energy access and security will also be key. In a competitive world, more prone to sanctions and weaponisation of strategic products, storage terminals will be critical in safeguarding supplies of Renewable Fuels of Non-Biological Origin (RFNBOs), advanced biofuels as well as feedstocks used for the decarbonisation of industry, such as ammonia. Storage infrastructure used for carbon capture, usage and storage (CCUS) will also play an important part in helping industry achieve net-zero emissions in line with EU goals. We have also commissioned a research project exploring regional approaches to the energy transition and assessing future storage business models’ suitability across regions to inform debate and discussion at a transformational time for the sector.”