European Union Green Project Failure Exposed
The European Union prides itself on its commitment to environmental protection and sustainability, as shown by its implementation of many policies and projects. One such project, however, was recently revealed to have had no results over its 10-year lifespan. This is an extremely disappointing failure for the European Union.
About the Project
The green project of interest involved the plans to build underground storage facilities for carbon dioxide emissions. These storage facilities would thereby reduce carbon dioxide emissions in the atmosphere, helping in the fight against climate change. The project was set to last 10 years, and had a budget of 520 million euros. Brussels was in charge of the operation.
The project was called the Carbon Capture and Storage project, and was initiated in 2007.
What Went Wrong?
The website EUobserver recently discovered that the storage facilities were never built, and the budget was wasted. The architect responsible for operation of plans blames inaccurate predictions of environmental costs to businesses. To be more specific, officials believed that carbon emissions pricing would go up, but unfortunately and much to their surprise, it dropped.
Shortly after the beginning of the project, the price of carbon dropped significantly, ceasing progress. People were more likely to buy the carbon than investing in the Carbon Capture and Storage project.
What makes news of the green project failure particularly frightening is the upcoming Brexit, which threatens to decrease funding by about 9 billion euros each year. For this reason, the news of more lost funds is devastating to many in the scientific community as well as among the general public.
Climate Change News
Through the Paris Agreement, many world leaders have committed to the goal of keeping temperature increase less than two degrees. Recent projects, such as the failed Carbon Capture and Storage project, are aimed at working towards this goal by reducing carbon emissions. Considering that Trump intends to keep the United States out of this agreement, the European Union will be faced with an even greater task when it comes to environmental protection and sustainability.
In conclusion, the revealing of a failed Carbon Capture and Storage project was upsetting to many. However, climate change action takes true perseverance. The European Union must not allow this setback to dictate further climate change initiatives. And, by learning from previous mistakes, the European Union sustainability plan can only become stronger.