The UK government has announced a significant £22 billion investment in carbon capture and storage projects, focusing on developing two carbon capture clusters in Merseyside and Teesside. This initiative aims to stimulate private investment and generate jobs in these industry-heavy areas.
Prime Minister Sir Keir Starmer today has committed up to £21.7bn over 25 years, to be given in subsidies to sites in the UK’s Teesside and Merseyside “clusters”, beginning from 2028. His vision is to revitalise regions affected by deindustrialisation and reinvigorate the nation’s industrial core through these future-oriented investments. He has emphasised that this move is about “reigniting our industrial heartlands” by investing in future industries.
Energy Security and Net Zero Secretary Ed Miliband stated that “a new era begins,” marking the start of an industry that captures carbon emissions to provide “good jobs” while demonstrating the government’s commitment to investment in the country.
Carbon capture, utilisation, and storage (CCUS) is designed to address climate change by capturing carbon dioxide emissions from burning fossil fuels and heavy industry, either for reuse or underground storage.
This investment, targeting two carbon capture clusters in Merseyside and Teesside over the next 25 years, aims to create thousands of jobs, attract private investment, and assist the UK in achieving its climate objectives.
The investment will be split between three projects; capturing carbon dioxide released either from making hydrogen, generating gas power or burning waste to create energy from 2028.
The UK’s huge investment in carbon capture and storage (CCS) has sparked enthusiasm, but concerns persist. Critics argue that CCS may divert attention and funding from more sustainable solutions, such as renewable energy sources. There are also questions about the long-term viability of the technology, as well as the potential for “lock-in” to fossil fuel dependency. Additionally, environmentalists worry about the risks associated with storing carbon underground, including possible leaks and the impacts on local ecosystems. Balancing these concerns while pursuing climate goals remains a complex challenge.
