CCSA Comments on Chancellor’s Announcement on Funding for CCUS in the Budget 2023

In response to the Chancellor’s Announcement (copied below) on the Clean Energy Reset, Ruth Herbert, the Carbon Capture and Storage Association’s CEO states;

“The industry welcomes the Chancellor’s announcement of major investment in UK carbon capture and storage. This will maintain the international competitiveness of our industries and give the UK a clear early mover advantage in a technology that will need to be deployed around the world if we are to limit global warming in line with the Paris agreement.

We have been spending significant sums of money at risk to develop projects that are ready to deploy to meet the Government’s Net Zero Strategy ambitions. This announcement means the UK’s industrial clusters can now move forward with essential decarbonisation plans, securing the future of our heavy industries and those employed in them and attracting billions of pounds of investment into levelling up these regions. 

This will create new jobs and growth, and position the UK to export low carbon products and CCS skills and services. The UK has a strong supply chain capability across all of the technologies needed to deploy CO2 capture, transport and storage, thanks to our successful offshore industries as well as our chemical and engineering know-how.


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