Carbon Capture Storage Association Spring Budget Assessment

15th April 2024

The Carbon Capture & Storage Association (CCSA) is the lead European association accelerating the commercial deployment of carbon capture, utilisation and storage (CCUS) through advocacy and collaboration. CCUS is an essential solution to reach net zero emissions. CCUS plays a vital role in reducing emissions from industries such as steel, cement, chemicals and refining. CCUS is one of the very few methods which can remove CO₂ from the atmosphere at an industrial scale.

Although the Government had previously promised backing for UK carbon capture, Ruth Herbert, Chief Executive of the Carbon Capture and Storage Association (CCSA), contends that the mark has been overlooked regarding carbon capture, utilisation, and storage (CCUS) projects. Following the Chancellor's Announcement on the Clean Energy Reset, Ruth Herbert, CEO of the CCSA, issued a statement expressing her views.

"Today’s budget was a missed opportunity for the Government to put in place a longer-term revenue support envelope for the next wave of projects – to provide the level of certainty they need to move forward," she said.

In last year's Budget, there was a pledge to allocate £20 billion ($25.5 billion) towards expanding CCS (Carbon Capture and Storage) projects throughout the UK, scheduled to be implemented over a span of 20 years. The government announced that this funding would facilitate the advancement of CCS endeavours in North Wales, the North West of England, and the East Coast. However, Herbert asserts that the funding has not yet reached the projects in dire need of it, despite looming deadlines.

"The UK’s CCUS industry is still waiting for the funding announced in last year’s Spring budget to be committed to projects, with final investment decisions for projects in the North West and North East of England needed in the next few months."

Without this, the UK risks losing the opportunity to attract around £30bn ($38bn) of private investment into UK CCUS by 2030, which would create and protect tens of thousands of jobs and transform industrial regions across the UK."

The CCSA offers a UK Carbon Capture Project Pipeline map on their website displaying information on identified carbon dioxide (CO₂) capture projects in the UK, including, where disclosed:

• Estimated location
• The projected CO₂ capture per year (MtCO₂/yr) of these projects once operational
• The type of project, by sector and by anticipated government support package (where relevant)
• The project’s engagement with the Government cluster sequencing programme (where relevant)

CCSA objectives are stated as:

• Advance carbon capture, utilisation and storage (CCUS) in the UK
• Promote CCUS internationally

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