The CCSA welcomes the National Wealth Fund’s (NWF) commitment to investing in carbon capture projects, as outlined in the Government’s Statement of Strategic Priorities.
Following the announcement, CCSA CEO, Olivia Powis, said:
“Confirmation that the National Wealth Fund will be investing in carbon capture projects provides an additional boost to the private capital already invested by the sector in projects across the UK. CCUS is a vital aspect of the Government’s Plan for Change and will play a central role in enabling Clean Power by 2030, 81% emissions reductions by 2035 and net zero by 2050.”
“It is also a growth enabler, and we anticipate that the sector could generate over 50,000 jobs, attract £26bn in private investment, and contribute £94bn in GVA by 2050. It’s therefore important that pace is maintained on deployment as we need capture plants to be operational as soon as possible.”