The UK government’s recent announcement regarding carbon capture, utilisation and storage (CCUS) has drawn criticism from the Institute for Energy Economics and Financial Analysis (IEEFA).
According to IEEFA, the plans contain potentially misleading claims that overlook the costly, complex and risky nature of CCUS technologies, which have a history of underperformance and delays.
Announced on 4th October, the UK government confirmed plans to establish carbon capture sites in Teesside and Merseyside, set to create 4,000 jobs and attract £8 billion ($10.3bn) in private investment.
This initiative aims to enhance the UK’s clean energy capabilities while supporting local economies and contributing to Net Zero targets by capturing over 8.5 million tonnes of carbon emissions annually, states the government.
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