Climate change minister Greg Barker today announced that the government would plough £60M to help develop carbon capture and storage (CCS) technology in emerging markets.
The Carbon Capture, Use and Storage (CCUS) Action Group recommended that £124M be allocated internationally to accelerate the deployment of CCS in the near term.
“We recognise that it is important to ensure CCS is deployed in developing as well as developed countries,” said Barker. “The funding that the UK has committed today will support the development of new partnerships and capacity building activities in emerging markets.”
However, the government has struggled to release the £1bn it pledged to invest in large scale, commercial scale CCS technology at home. It resurrected its plan to try and attract investors in this larger pool of cash earlier this month following the collapse of its first deal in October last year. Utility ScottishPower pulled its Longannet coal-fired power station in Scotland out of the Department of Energy and Climate Change competition that was launched in 2007.