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Economic benefits of CCS to UK

Tue, 04 Feb 2014

Economic Benefits of CCS to UK

We are delighted to announce the launch of our new report 'A UK Vision for Carbon Capture and Storage' and an associated summary document 'The Economic Benefits of CCS in the UK', published jointly by the CCSA and TUC.

The reports recommend a number of actions that need to be taken by government to boost CCS and deliver significant benefits to the UK economy in the lifetime of the next parliament and beyond.

Key findings from the report include:

The reports were launched by the CCSA and TUC at the House of Commons on Tuesday 4th February.

Speaking at the Launch, Chief Executive of the CCSA Dr Luke Warren said: “This report definitively shows that the successful deployment of CCS has wider benefits for the UK economy. Respected international and UK organisations agree that without CCS in the mix, costs of meeting climate change targets will rise significantly. We have gone further in this report to show that the cost savings from CCS have a real impact on the average UK household – increasing their disposable income and reducing the risk of fuel poverty.

“The UK is one of the best places in the world to develop CCS – we have abundant storage capacity in the North Sea, a world-class oil and gas industry with the right skills for CCS, and existing infrastructure that can be re-used. Now is the time for the UK to seize this opportunity, realise the significant benefits of CCS and become one of the global leaders in this vital technology.”

There was strong interest from the press, and the report is anticipated to help move forward the intense debate over the future of CCS, and its contribution to the viability of energy intensive industries in the UK.

Click here to read The Economic Benefits of CCS to the UK

Click here to read The UK Vision for Carbon Capture and Storage

The reports are also available on the CCSA website.

The work was also cited in the Energy and Climate Change Committee report on Carbon Capture and Storage (May 2014).

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