UK announces £22 billion funding for carbon capture and storage projects

The UK government will announce £22 billion in funding for carbon capture and storage (CCS) projects, marking a significant commitment to the technology after years of delays. This funding will support the HyNet and East Coast Cluster projects. HyNet aims to capture emissions from factories in north-west England and store them under the seabed in Liverpool Bay. The East Coast Cluster will capture emissions from industry in Teesside and store them in the North Sea. This new funding follows a previous plan that was scrapped in 2015. The Labour government’s commitment provides reassurance to heavy industry as it works to reduce carbon emissions, with a goal of capturing 20 to 30 million tonnes of carbon dioxide annually by 2030.