Policies and other factors influencing deployment of CO2 geostorage: Learnings from early mover nations in Europe

• Learnings from first-mover nations including the Netherlands, UK, and Norway for CCS. • EU and national policies and funding that have stimulated uptake of geological storage. • Main mechanisms highlighted to inform countries yet to deploy geological storage. The European Union has set ambitious emission reduction goals, aiming to be carbon neutral by 2050. Long-term geological storage (geostorage) of carbon dioxide (CO 2 ) in subsurface reservoirs is one solution but the status of regulatory frameworks and commercial incentives across European countries varies. Examples from first-mover nations, including the Netherlands, the UK, and Norway, indicate that successful deployment of geostorage depends on clear policy and regulatory frameworks and the enshrinement of geostorage into national climate action plans. Additional actions beyond policy that benefit geostorage include targeted financial mechanisms, time-limited financial incentives, leveraging carbon taxes, state ownership pivoting to private investment, and community engagement. Efficiencies are evidenced by reuse of infrastructure to reduce investment cost, use of industrial clusters, and cross-border collaboration, as well as synergies with decarbonising complementary markets such as cement, heavy industry, fertilizer production and hydrogen production. An overview of existing policies and incentives in the Netherlands, the UK and Norway is presented, and potential learnings for jurisdictions at an earlier stage of geostorage deployment are discussed.