UK announces major investments in carbon capture

The British government will announce on Friday October 4 an investment of nearly 22 billion pounds sterling (26 billion euros) over 25 years to develop carbon capture and storage projects. The objective of the operation will be to stimulate growth and reduce CO₂ emissions.

These projects will make it possible to “revive our industrial centers by investing in the industry of the future”must say British Prime Minister Keir Starmer, who came to power in July after Labor’s victory in the legislative elections. He will announce three carbon capture hubs in former industrial areas in the north-west of England – in the Liverpool region – and the north-east.

Carbon capture and storage (CCUS) consists of capturing emissions leaving factories (power plants, cement plants, blast furnaces, etc.), before they enter the atmosphere. This technology plans to inject them deep into geological reservoirs or to reuse them.

50,000 jobs planned

According to the government, these projects will create 4,000 jobs (50,000 in the long term) and generate 8 billion in private investment. They must also help the UK meet its climate targets by reducing carbon emissions into the atmosphere by 8.5 million tonnes per year. Storage is expected to start from 2028.

The Climate Change Committee, the body responsible for advising the executive on its climate strategy, welcomes this project. “It’s fantastic to see the funding for these major projects come to fruition”reacted James Richardson, director of this committee. “We cannot achieve the country’s climate goals without CCUS. This commitment is therefore very reassuring”he added.

On the other hand, Greenpeace criticizes the government’s announcement. “£22 billion is a lot of money to spend on something that will extend the life of planet-warming oil and gas production”lamented Doug Parr, a manager of the NGO in the United Kingdom. “Most of this money should instead be invested in creating new jobs in the green industries of the future, such as offshore wind, or in a national program to insulate homes”he added.