Executive summary
Over the last few decades a growing number of leading international and national climate organisations have recognised the key role carbon capture technologies could play in achieving global climate targets. These solutions can drastically reduce carbon emissions whilst simultaneously delivering cleaner baseload power generation and effectively decarbonising industry processes. At the same time, their development can generate other positive outcomes such as job creation. Nevertheless, the number of large facilities and projects operating globally remains low.
Cognisant of the commercial barriers and challenges that have hindered deployment, it is fair to say that carbon capture solutions have suffered from inconsistent regulatory frameworks in certain jurisdictions, including the UK. In turn, these innovations have not received the same level of investment and policy support as other climate mitigation options.
This brief explores the benefits deriving from carbon capture technologies and outlines why they are essential to achieve decarbonisation. Moreover, it investigates how different political decisions and policy developments have affected deployment in the UK. It also considers whether the latest CCUS plan could provide a turning point for a more ambitious approach to help the UK position itself as a technology and climate leader. In this regard, the 26th Conference of Parties (COP) hosted by the UK could offer important opportunities for enhanced cooperation at an international level.
Leave A Comment