{"id":14800,"date":"2023-12-20T12:18:21","date_gmt":"2023-12-20T12:18:21","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=14800"},"modified":"2023-12-20T16:33:49","modified_gmt":"2023-12-20T16:33:49","slug":"uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/","title":{"rendered":"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market"},"content":{"rendered":"<!--themify_builder_content-->\n<div id=\"themify_builder_content-14800\" data-postid=\"14800\" class=\"themify_builder_content themify_builder_content-14800 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n\n\n<p>The UK government\u2019s Department for Energy Security and Net Zero announced today the publication of CCUS Vision, setting out its plan to establish the UK as a global leader in carbon capture, usage and storage (CCUS).<\/p>\n\n\n\n<p>Key aspects of the plan include ramping up CCUS in the UK to at least 20 million tonnes of CO2 by 2030, and to create a competitive, self-sustaining CCUS market in the UK from 2035.<\/p>\n\n\n\n<p>Carbon capture and storage forms a key part of the UK\u2019s strategy to achieve net zero emissions by 2050, most notably as a solution to enable emissions reductions from emissions-intensive and difficult to decarbonize industries, such as steel, cement and chemicals. The new publication follows the allocation announced earlier this year in the UK budget of \u00a320 billion to support the early development of CCUS technologies.<\/p>\n\n\n\n<p>In addition to its contributions to industrial decarbonization, the new CCUS Vision also highlights opportunities for the UK to capitalize on its unique geology, infrastructure, capabilities, and North Sea storage capacity \u2013 estimated at 78 billion tonnes of CO2 \u2013 to offer storage services to other countries. Overall, by developing CCUS into a \u201cnational asset,\u201d the plan envisions boosting the economy by \u00a35 billion annually by 2050.<\/p>\n\n\n\n<p>UK Energy Security Secretary Claire Coutinho said:\u202f\u202f<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThanks to the UK\u2019s geology, skills and infrastructure, we are in a unique position to lead the way on carbon capture technologies.\u202f\u202f<\/p>\n\n\n\n<p>\u201cThat is why we\u2019re making one of the biggest funding commitments in Europe on carbon capture that will cut emissions from our atmosphere, while unlocking investment, creating tens of thousands of jobs and growing the UK economy.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>The new plan outlines the development of a CCUS market in the UK following 3 stages, including \u201cMarket Creation\u201d through 2030, requiring high levels of government support while establishing 4 storage clusters, supporting the initial CCUS deployments across sectors, and developing carbon transport capacity; \u201cMarket Transition\u201d between 2030 and 2035, with an emerging commercial and competitive market developing as costs decline with maturing CO2 transport networks and technological developments reducing the need for government support, and; \u201cSelf-sustaining market\u201d from 2035, in which market conditions allow for a self-sustaining and competitive CCUS market.<\/p>\n\n\n\n<p>Alongside the publication of the CCUS Vision, the government also announced a series of updates on the development of its carbon storage clusters, including an agreement on the initial commercial terms with the Northern Endurance Partnership (NEP), the CO2 transportation and storage company which formed to deliver onshore and offshore infrastructure for the East Coast Cluster in Teesside and the Humber, and plans to accelerate the process to set up and identify suitable capture projects for two new clusters announced earlier this year.<\/p>\n\n\n\n<p>Energy Efficiency and Green Finance Minister Lord Callanan said:\u202f\u202f\u202f\u202f<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe need pragmatic answers to the carbon challenge, and with our infrastructure, skills and geology, the UK is in pole position to take advantage of game-changing carbon capture and storage technology.\u202f\u202f\u202f\u202f\u202f\u202f<\/p>\n\n\n\n<p>\u201cToday we\u2019re publishing a blueprint to deliver a world-leading UK carbon capture industry, so that we have a competitive market in this exciting new technology by the middle of the next decade.\u201d<\/p>\n<\/blockquote><span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>The UK government\u2019s Department for Energy Security and Net Zero announced today the publication of CCUS Vision, setting out its plan to establish the UK as a global leader in carbon capture, usage and storage (CCUS). Key aspects of the plan include ramping up CCUS in the UK to at least 20 million tonnes of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14801,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[12,31],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market - ESG Today\" \/>\n<meta property=\"og:description\" content=\"The UK government\u2019s Department for Energy Security and Net Zero announced today the publication of CCUS Vision, setting out its plan to establish the UK as a global leader in carbon capture, usage and storage (CCUS). Key aspects of the plan include ramping up CCUS in the UK to at least 20 million tonnes of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\" \/>\n<meta property=\"og:site_name\" content=\"ESG Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ESGToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-20T12:18:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-20T16:33:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/12\/london-3-1234472.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark Segal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:site\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark Segal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\"},\"author\":{\"name\":\"Mark Segal\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\"},\"headline\":\"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market\",\"datePublished\":\"2023-12-20T12:18:21+00:00\",\"dateModified\":\"2023-12-20T16:33:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\"},\"wordCount\":516,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"articleSection\":[\"Environment\",\"Government\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\",\"url\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\",\"name\":\"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market - ESG Today\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/#website\"},\"datePublished\":\"2023-12-20T12:18:21+00:00\",\"dateModified\":\"2023-12-20T16:33:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.esgtoday.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.esgtoday.com\/#website\",\"url\":\"https:\/\/www.esgtoday.com\/\",\"name\":\"ESG Today\",\"description\":\"ESG investing news, analysis, research and information\",\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.esgtoday.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.esgtoday.com\/#organization\",\"name\":\"ESG Today\",\"url\":\"https:\/\/www.esgtoday.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png\",\"contentUrl\":\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png\",\"width\":618,\"height\":350,\"caption\":\"ESG Today\"},\"image\":{\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ESGToday\/\",\"https:\/\/twitter.com\/EsgToday\",\"https:\/\/www.linkedin.com\/company\/esg-today\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\",\"name\":\"Mark Segal\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g\",\"caption\":\"Mark Segal\"},\"description\":\"Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm\u2019s head of U.S. equities. While at DCM, Mark was part of the firm\u2019s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.\",\"url\":\"https:\/\/www.esgtoday.com\/author\/mo-segal9\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market - ESG Today","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/","og_locale":"en_US","og_type":"article","og_title":"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market - ESG Today","og_description":"The UK government\u2019s Department for Energy Security and Net Zero announced today the publication of CCUS Vision, setting out its plan to establish the UK as a global leader in carbon capture, usage and storage (CCUS). Key aspects of the plan include ramping up CCUS in the UK to at least 20 million tonnes of [&hellip;]","og_url":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/","og_site_name":"ESG Today","article_publisher":"https:\/\/www.facebook.com\/ESGToday\/","article_published_time":"2023-12-20T12:18:21+00:00","article_modified_time":"2023-12-20T16:33:49+00:00","og_image":[{"width":1024,"height":768,"url":"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/12\/london-3-1234472.jpg","type":"image\/jpeg"}],"author":"Mark Segal","twitter_card":"summary_large_image","twitter_creator":"@EsgToday","twitter_site":"@EsgToday","twitter_misc":{"Written by":"Mark Segal","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#article","isPartOf":{"@id":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/"},"author":{"name":"Mark Segal","@id":"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01"},"headline":"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market","datePublished":"2023-12-20T12:18:21+00:00","dateModified":"2023-12-20T16:33:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/"},"wordCount":516,"commentCount":0,"publisher":{"@id":"https:\/\/www.esgtoday.com\/#organization"},"articleSection":["Environment","Government"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/","url":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/","name":"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market - ESG Today","isPartOf":{"@id":"https:\/\/www.esgtoday.com\/#website"},"datePublished":"2023-12-20T12:18:21+00:00","dateModified":"2023-12-20T16:33:49+00:00","breadcrumb":{"@id":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.esgtoday.com\/uk-unveils-strategy-to-establish-a-self-sustaining-carbon-capture-market-by-2035\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.esgtoday.com\/"},{"@type":"ListItem","position":2,"name":"UK Unveils Strategy to Establish a Self-Sustaining Carbon Capture Market"}]},{"@type":"WebSite","@id":"https:\/\/www.esgtoday.com\/#website","url":"https:\/\/www.esgtoday.com\/","name":"ESG Today","description":"ESG investing news, analysis, research and information","publisher":{"@id":"https:\/\/www.esgtoday.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.esgtoday.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.esgtoday.com\/#organization","name":"ESG Today","url":"https:\/\/www.esgtoday.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png","contentUrl":"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/05\/ESG-Today-Logo.png","width":618,"height":350,"caption":"ESG Today"},"image":{"@id":"https:\/\/www.esgtoday.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ESGToday\/","https:\/\/twitter.com\/EsgToday","https:\/\/www.linkedin.com\/company\/esg-today\/"]},{"@type":"Person","@id":"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01","name":"Mark Segal","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.esgtoday.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/68fbfd7923e36d210feb00a7621096af?s=96&d=mm&r=g","caption":"Mark Segal"},"description":"Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm\u2019s head of U.S. equities. While at DCM, Mark was part of the firm\u2019s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.","url":"https:\/\/www.esgtoday.com\/author\/mo-segal9\/"}]}},"builder_content":"","_links":{"self":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/posts\/14800"}],"collection":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/comments?post=14800"}],"version-history":[{"count":0,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/posts\/14800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/media\/14801"}],"wp:attachment":[{"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/media?parent=14800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/categories?post=14800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.esgtoday.com\/wp-json\/wp\/v2\/tags?post=14800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}