Carbon capture technology works by capturing carbon dioxide before it reaches the atmosphere, storing it safely underground in offshore sites and reducing emissions. The UK Climate Change Committee has described the technology as a necessity for meeting net zero targets.
“Businesses right across the country want to do their bit to reduce carbon emissions and I want to hear from them how we can deliver greener solutions for industry by giving them ever-greater access to this game-changing technology,” energy efficiency and green finance minister Lord Callanan said.
The United Kingdom has a distinctive geology and the capacity to store up to 20-30 million tonnes of carbon dioxide annually by 2030, equivalent to removing 4 to 6 million cars from the country’s roads each year and supporting 50,000 jobs, an official release said.
The government is championing this industry with a significant investment of up to £20 billion (~$25 billion)—one of the biggest in Europe.
The Call for Evidence delivers on a commitment made in the landmark carbon capture, usage and storage (CCUS) vision published last December, which set out government plans for a new competitive UK carbon capture, usage and storage market by 2035.
It is anticipated that projects using non-pipeline transport methods will be eligible for selection as carbon capture projects from 2025 onwards.
Fibre2Fashion News Desk (DS)