Even though cost of carbon emissions in Europe reached the highest level in a decade, it is still too far from the point that will allow significantly reduce carbon dioxide emission into atmosphere, Bloomberg reports.

Carbon futures exceeded 20 euro per ton this week. Experts think that price is still not high enough to motivate use of cleaner fuels.

According to estimates of International Energy Agency, price $50 per ton could stimulate adaptation of crucial technologies allowing to prevent gas floods to atmosphere (systems for carbon capture and storage, CCS). Such technologies are so needed in China and India that rely on coal a lot to raise its economic levels.

To restrict global warming level, carbon dioxide capture shall be increased by 10 times until 2025. Investment requirements are $60 billion. To meet conditions of Paris Agreement, emissions shall be cut by 760 gigatons from current year to 2060.

There are 18 large scale facilities for capturing and storing carbon dioxide in the world. Five more are under construction.