Ten Point Plan for a Green industrial Revolution - Point 8: Carbon capture, usage and storage
As part of the Ten Point Plan, the UK will increase the development of CCUS for a greener industrial revolution.
The UK aims at capturing 10Mt of carbon dioxide by 2030. Through the new policy, a 1 billion CCUS Infrastructure Fund was created to support in 4 industrial CCUS clusters (North East, Humber, North West, Scotland and Wales). More details will be published in 2021 for a revenue mechanism to bring in private sector investment.
- 50 000 jobs by 2030
- Up to 1 billion GBP public investment by 2025
- savings of around 40 MtCO2e between 2023 and 2032, or 9% of 2018 UK emissions.
2021: Execute a process for CCUS deployment, working in collaboration with industry and set out further details of a revenue mechanism for industrial carbon capture and hydrogen projects
2022: new CCUS business models finalised
2030: 2 clusters operational by the mid-2020s, subject to relevant value for money and affordability considerations and a further 2 clusters operational by 2030.
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