23 June 2022, London – The Carbon Capture and Storage Association (CCSA), the trade body for the Carbon Capture, Utilisation and Storage (CCUS) industry, welcomes the UK Infrastructure Bank’s first Strategic Plan launched today.
The plan sets out the UK Infrastructure Bank (UKIB) ambition to invest £22 billion to tackle climate change and regional growth; including scaling up green infrastructure and accelerating deployment of CCUS and hydrogen.
Ruth Herbert, Chief Executive of the CCSA said:
“Today’s announcement by the UK Infrastructure Bank is a massive vote of confidence for the CCUS industry, demonstrating that the UK is serious about long-term investment in this vital climate technology and the need for urgent and accelerated deployment.
The plan highlights the tremendous investment opportunity in delivering a clean energy sector for the UK, that also increases our self-reliance thereby helping to tackle the cost-of-living crisis.
CCUS and hydrogen will both play a crucial role in delivering this outcome and, together with the upcoming Energy Security Bill, the UK will have set out a strong regulatory and incentive framework, which, providing there is clarity on the scale and timing of revenue support, will enable these technologies to play their vital role at the heart of the net zero energy transition”.
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