The European Commission published its Industrial Carbon Management Strategy on February 6, 2024, outlining plans to reduce emissions by 90% by 2040 and achieve climate neutrality by 2050 through carbon capture and storage (CCS), carbon capture and utilization (CCU), and carbon dioxide removal (CDR) technologies. The strategy sets ambitious targets including capturing 280 million tonnes of CO₂ by 2040 and 450 million tonnes by 2050, and proposes measures such as establishing a single market for CO₂ in Europe and creating a more attractive investment environment for industrial carbon management projects.