The European Commission and the UK have outlined a renewed agenda for cooperation focusing on maritime security, safety, and energy innovations. The Common Understanding emphasizes collaboration in various sectors, including maritime security, accident reporting, and the exploration of UK participation in the EU's electricity market. The agreement also aims to enhance cooperation on CCUS, hydrogen, and biomethane, with the goal of establishing joint standards for cross-border CO2 infrastructure. Additionally, efforts will be made to link the UK and EU carbon markets, aligning with respective legislation and targets. Carbon Catalyst, part of a JV involved in the UK's first CO2 injection test, praised the outcomes of the EU-UK Reset Summit. They highlighted the importance of linking emission trading systems and creating a Europe-wide CO2 storage market, signaling a positive step towards industrial decarbonization and climate cooperation. The agreement is seen as a milestone that can unlock cross-border CO2 transport, provide pricing certainty, and accelerate investment in the CCUS sector. The political will displayed by the UK Government and the potential for North Sea CO2 networks are recognized as essential for achieving net-zero emissions and ensuring value-for-money from CCUS projects.