Carbon Emissions: Finance

(asked on 18th October 2021) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the funding required to meet the Government's carbon capture 2030 targets.


Answered by
Greg Hands Portrait
Greg Hands
Minister of State (Department for Business and Trade)
This question was answered on 22nd October 2021

In the Net Zero Strategy published on the 19th October, the Government reaffirmed the commitment to supporting Carbon Capture Usage & Storage (CCUS) via the £1 billion CCUS Infrastructure Fund. This will provide industry with the certainty required to deploy CCUS at pace and at scale and will form part of a package of government support, which will also include the Industrial Decarbonisation and Hydrogen Revenue Support (IDHRS) scheme and the £240 million Net Zero Hydrogen Fund supporting both CCS-enabled ‘blue’ and electrolytic ‘green’ hydrogen.[1]

[1] CCC (2020) The Sixth Carbon Budget - The UK's path to Net Zero, Chapter 2, page 126

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