Swedish real estate company, Fabege, has signed an agreement with Stockholm Exergi concerning the capturing of biogenic carbon dioxide, which is known as bio-CCS.
The arrangement also involves the future purchasing of “negative emissions”. The memorandum of understanding is an important step towards achieving Fabege's 2030 climate goals, it said on Thursday.
Fabege currently has greenhouse gas emissions linked to the purchasing of district heating, and Stockholm Exergi is one of the largest suppliers.
Stockholm Exergi’s research project, which has state and EU funding, is part of an international collaboration that is aiming to further develop the possibilities for capturing and storing carbon dioxide in the bedrock of the North Sea, off the coast of Norway. The future bio CCS facility is expected to be completed and operational by 2026.
‘We want to contribute to a sustainable Stockholm and to reduce our carbon footprint, including by being part of the transition to fossil-free energy use. The agreement with Stockholm Exergi brings us closer to our goal of being climate-neutral by 2030 and supplements our successful energy efficiency efforts,’ said Mia Häggström, head of sustainability.
According to the government, bio CCS is an important measure to help Sweden achieve its climate emission targets. CCS stands for carbon capture and storage. Bio CCS means carbon capture and storage from renewable sources. CCS is a complement to other emission reduction efforts, such as energy efficiency measures and the reducing of fossil-based energy usage.