Successfully deploying carbon capture and storage would be a huge economic prize for the UK in its low carbon transition, cutting the annual cost of meeting our carbon targets by up to 1% of GDP by 2050.
Financial market conditions are very challenging and if private sector capital is to be mobilised, major challenges will have to be overcome.
There is a risk that no projects will be investable to follow on the first project(s) which gain public sector capital support, preventing CCS from fulfilling its potential key role.
Further Work Making early CCS projects investable is a key priority in enabling CCS to develop and fulfil its potential in the UK’s transition to a low carbon economy.
We plan further work which will involve detailed analysis of the challenges and how the solutions can be delivered. This will involve continued focused engagement with capital providers, project developers and other stakeholders.
To view and download the CCS - Mobilising private sector finance for CCS in the UK please click here.