Environmental Audit Committee: Personal submission to Sustainability and HM Treasury inquiry

Research output: Working paper

Abstract / Description of output

The UK has, since the G8 meeting in 2005, and especially since creating a carbon capture and storage “CCS Competition” in 2007, been a strong promoter domestically and internationally of CCS as one direct technique to reduce the rate of anthropogenic carbon dioxide (CO2) emission to atmosphere, where it acts to increase global temperatures and ocean acidity.

On 25 November 2015, the UK Government issued a statement to the London Stock Exchange a few hours after the Chancellor’s Autumn Statement, which withdrew the capital funding support for the CCS Competition in the UK. This abrupt and unexpected change of support led to immediate cessation of work on the two CCS projects underway in the Competition: Capture Power at Drax in Yorkshire, which has subsequently cancelled the project; and Peterhead to Goldeneye in Aberdeenshire, where the project is currently suspended. Confidence among investors in CCS has plummeted domestically and internationally. Government (DECC Ministers) have spoken about the UK being “still interested” in CCS, although there is no definitive information.
Original languageEnglish
PublisherSCCS
Pages1-6
Number of pages6
Publication statusPublished - 18 Feb 2016

Publication series

NameSCCS Working Papers
PublisherSCCS
No.WP SCCS 2016-04

Keywords / Materials (for Non-textual outputs)

  • CCS
  • UK CCS competition cancellation

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