[London, 13 June 2024] – On Thursday, the Labour Party launched their manifesto in Manchester, committing to a confirmed additional £1 billion to accelerate the deployment of Carbon Capture.
In addition, the manifesto sets out a further £8.3bn a year for Great British Energy to co-invest in capital-intensive projects in leading technologies to deliver clean power.
The Carbon Capture & Storage Association (CCSA) welcomes the Labour Party’s commitment to capture and storage technology. CCUS is set to play a key role in reducing our emissions and must be deployed at scale through the CCUS Cluster Sequencing Programme, where companies are investing significantly in four clusters to be operational by 2030.
With key milestones within the Programme scheduled for immediately after the election, the CCUS industry is looking for further signals from Labour that it will be ready to do what is required to ensure the UK achieves global leadership in CCUS technology. This can safeguard 77,000 jobs in British industry and create 70,000 new, highly skilled jobs across the country.
Ruth Herbert, Chief Executive of the Carbon Capture & Storage Association said:
“The CCSA welcomes the Labour Party’s support for carbon capture and storage (CCS) in their General Election manifesto and the additional £1bn under their National Wealth Fund to accelerate carbon capture.
“Many of our members have invested heavily in the first four clusters under the UK’s CCUS Cluster Sequencing Programme that must be operational by 2030 to capture and store 20-30Mt of CO2 in line with the CCC’s advice.
We therefore emphasise the need for continuity in the delivery of the Programme, where financial decisions are needed on Track-1 before the end of this summer, as well as rapid progress on selecting Track-2 and Track-1 expansion projects required as soon as possible following the election.”
Notes to Editors
CCUS, or Carbon Capture, Utilisation and Storage, is a key low carbon solution – vital to meeting the UK’s statutory Net Zero target at least cost. CCUS enables the production of clean power, clean products (such as steel and cement) and clean hydrogen – which can then be used to decarbonise heating and transport. In addition, CCUS also enables greenhouse gas removal from the atmosphere through Direct Air Capture with Storage (DACS) or Bioenergy with CCS (BECCS).
The CCSA is the trade association accelerating the commercial deployment of CCUS, with offices in the UK and Belgium. We work with members, governments and other organisations to ensure CCUS is developed and deployed at the pace and scale necessary to meet net zero goals and deliver sustainable growth across regions and nations.
The CCSA currently has over 100 member companies who are active in exploring and developing different applications of carbon capture and removals, CO2 transportation by pipeline and ship, utilisation, geological storage, and other permanent storage solutions, end-users such as power, industry, waste, fuels, and hydrogen production sectors, plus supply chain, engineering, construction and management, legal and financial consulting sectors.
For media enquiries please contact Joe Butler-Trewin on 07908 141 067/ joe.butler-trewin@ccsassocaition.org.
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