Critical Step Forward to Net Zero: Budget Commits Significant Funding to CCS Deployment

The Carbon Capture and Storage Association (CCSA), the trade body for the Carbon Capture and Storage (CCS) industry in the UK, welcomes the announcement in the Budget 2020 to commit £800m to fund CCS infrastructure.

The Government first set out their intention to commit to this funding in last year’s Conservative Manifesto and today’s announcement represents the first major funding commitment specifically for commercial-scale deployment of CCS in recent years.

Luke Warren, Chief Executive of the CCSA, said:

“The announcement of at least £800m to support the development of two CCS clusters in the 2020s is a really welcome and a very significant step forward. The UK Government has clearly recognised that CCS is an essential tool if we are to achieve the net zero target and they have now taken action to make CCS a reality.

We look forward to working with the Government in the run up to the Spending Review on the detail of how these funds can be used to ensure that CCS is deployed in multiple industrial regions in the 2020s, helping to support their transition to a net zero economy and creating the low carbon sectors of the future.

With the UK hosting COP26 this year, we have today sent a strong signal to industry and the world, that the UK is committed to achieving its net zero target and aspires to become a global leader in the development of CCS as part of the global response to climate change”.

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