CARBON CAPTURE AND STORAGE: A NECESSITY NOT AN OPTION
PAUL A T DAVIES
Why is major investment in Carbon Capture and Storage (CCS) recommended by the Intergovernmental Panel on Climate Change (IPCC) and the UK’s Committee on Climate Change (CCC) as “a necessity, not an option”?
This paper summarises the need for CCS investment as an important part of the UK achieving ‘Net Zero’ by 2050.
CARBON CAPTURE AND STORAGE: TIME FOR AN AMBITIOUS LEAP FORWARD
PAUL A T DAVIES
The next 18 months are set to be formative for CCS, as both the public and private sectors make key decisions on the breadth and extent of CCS investment this decade. The outcomes could range from one offshore CO2store and projects at one Industrial Cluster, to developing three storage regions that would underpin comprehensive decarbonisation of all of the UK’s principal Industrial Clusters, together with the launch of a hydrogen economy, CCS power and Bio Energy CCS (“BECCS”).
The latter outcome would require ambitious investment, and set the scene for competition, innovation and investment across the UK in projects to transition to a green economy.
This paper considers key strategic reasons for adopting a clear, ambitious, public-private approach to CCS now, to create the building blocks of a new industry.
IDEAS AND POLICY ADVICE
BEIS CONSULTATION ON THE RAB MODEL FOR NUCLEAR
RESPONSE FROM THE INFRASTRUCTURE FORUM
The Infrastructure Forum's RAB Working Group has submitted its response to the BEIS Consultation on the RAB Model for Nuclear.
The Working Group, comprised of experts in infrastructure finance with particular knowledge of the RAB model, UK regulatory framework and delivery of greenfield projects, considered questions posed by the consultation on the structuring of the model as well as broader Critical Success Factors necessary for setting up an investable nuclear RAB.
Particular focus was given to: the incentive mechanisms which facilitate the delivery of Value for Money for consumers, investors, the project developer and Government; ensuring a robust and credible Economic Regulatory Regime; the investability of the model; importance of a sustainable supply chain; and political support for a UK new nuclear programme.