UK Investment Minister confirms that CCUS is indispensable to industrial decarbonisation
- Minister Gustafsson confirms that Government view carbon capture as indispensable, noting its role for industries that can’t easily decarbonise, such as cement.
- The UK has the right skills and infrastructure to lead in carbon capture and storage.
- The UK Government is keen to support more CCUS projects across the UK and will make more announcements after the Spending Review in the Spring.
[Thursday 28 November, London] – Yesterday, Baroness Gustafsson, Minister for Investment, addressed CCSA members at the association’s Annual General Meeting. The Minister reconfirmed the Government’s continued commitment to deploy Carbon Capture, Utilisation and Storage (CCUS) across the UK.
Having only been in the role for 6-weeks, Minister Gustafsson acknowledged the level of ambition within the CCUS sector to deploy projects that will decarbonise heavy industries. The Minister noted in particular how CCUS is “indispensable” for sectors such as cement production.
With UK cement critical for building new homes, hospitals, and schools, it is important to find a way to continue production without emitting more CO2 into the atmosphere. For industries such as cement, chemicals and manufacturing, as well as energy from waste, CCUS is the most viable route to decarbonisation.
Minster Gustafsson reinforced the UK Government’s commitment to drive investment into the UK and support the growth of the UK CCUS sector. The CCSA estimates that the private sector will invest between £20 to £30 billion in projects across the UK’s industrial heartlands by 2030 if CCUS is deployed at scale.
The UK is fortunate to have a world-leading energy industry with unique geological expertise, which the Minister recognised as a competitive advantage in the Government’s ambition of global climate leadership.
As noted by the Minister, the Government’s mission driven approach to meeting net zero targets includes CCUS as a central feature, and the CCSA will continue to work with the Government to unlock the full potential of the CCUS industry.
At the AGM meeting, members voted for the four successful candidates elected to sit on the Board for the coming year:
- Ruth Herbert, Managing Director, Business Development & Strategic Initiatives, EET
- Louise Matthias, Global Head of Government Relations and Public Policy, Climeworks
- Sophia Northridge, Head of UK Region & Business Development, Equinor
- Chris Thackeray, Global CCUS Lead, Baringa
The CCSA Board now comprises 50% women, a figure that the CCSA is very proud of and highlights the great female leaders within the CCUS industry. More details on the Association’s Board members can be found here.
Olivia Powis, CEO of the CCSA said:
“Minister Gustafsson brings a renewed sense of energy and ambition to the CCUS investment landscape. It’s clear that this Government has great aspirations when it comes to global climate leadership and promoting investment into the UK’s low-carbon economy”
“I was very much encouraged by the Minister’s words that CCUS is indispensable. She is absolutely correct, especially for hard to abate sectors such as cement, chemicals and manufacturing. Without carbon capture, these industries will not be able to decarbonise their operations or remain competitive in the global market.
“I look forward to continuing to work with Minster Gustafsson and the Office for Investment to unlock routes to market for CCUS projects right across the length and breadth of the UK.”
Notes to Editor
Photos
- Left hand: Olivia Powis, CEO of the CCSA
- Right hand: Minister Gustafsson
Please see the photo below of the CCSA’s new board members, as well as the CCSA’s LinkedIn post welcoming the new board members here.
Download high-res versions of these photos here.
Please credit the CCSA