The Carbon Capture Usage and Storage (CCUS) Taskforce today presents its report to the UK Government, setting out its recommendations on how the country can bring forward CCUS and deliver on its ambition of becoming a world leader in this crucial technology.
The report sets out the enormous opportunity and value that CCUS delivers across the UK economy and emphasises the need for urgency to enable CCUS to fulfil its role in achieving the lowest-cost route to meeting the UK’s statutory climate change targets.
The overall conclusion of the Taskforce, which was chaired by Charlotte Morgan, Energy and Infrastructure partner at Linklaters, is that CCUS meets the three commitments set out in the Clean Growth Strategy; reducing emissions in the most cost-effective way, maximising innovation and making the UK a global technology leader. The UK is uniquely placed to grasp the CCUS opportunity, with the potential to develop a large export market delivering significant economic benefits for the UK.
The report recommends a number of key actions and messages, including:
Dr. Luke Warren, Chief Executive of the Carbon Capture and Storage Association (CCSA), commented, “After six months of intense discussions between a number of key CCUS stakeholders, the message from today’s report is clear: CCUS can already be deployed at a competitive cost, through the development of CCUS clusters in key UK regions. These clusters could support clean growth across the UK economy whilst retaining and creating high-value jobs in some of the UK’s most important industries.”
“The government has committed to publishing a CCUS Deployment Pathway by the end of 2018. The next five to six months therefore represent a crucial period for CCUS. It is imperative that industry and Government now work together to ensure that the recommendations set out in today’s report are taken forward and reflected in a strong and ambitious new approach to CCUS.”