CCS trade body urges funding certainty ahead of UK spending review
Trade body the Carbon Capture & Storage Association (CCSA) is urging the UK government to provide long-term certainty and commit funding to advance pre-selected CCUS Track-1, Track-1 expansion and Track-2 projects in the spending review on 11 June.
Its policy wish-list also extends to establishing regular allocation funding rounds for other CCUS projects within the same timeframes, and advancing efforts to remove barriers to a cross-border carbon market within Europe, along with “quick progress” on UK–EU ETS alignment and the UK Carbon Border Adjustment Mechanism.
Despite the UK government committing $22bn to developing hydrogen and CCS in the next 25 years, economic pressures threaten to stall the pace of development of key projects.
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