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CBI, IPPR North & TUC back CO2Sense's CCS report

October 17th, 2012 | 1:33 pm

Yesterday, we launched a major new report to MPs that highlights the significant economic benefits of investing in the Yorkshire & Humber Carbon Capture Storage (CCS) cluster. The report reveals that this would generate £1.3bn for the UK economy, deliver 4000 jobs and help attract as much as £11billion in foreign investment.

With just weeks to go until the Government makes a decision on where to invest billions of pounds of funding for CCS projects, the report has received support from high-profile organisations such as IPPR North, CBI, TUC & Committe on Climate Change. Here’s what these organisations have said:

Ed Cox, director at IPPR North:

“Investing in CCS in Yorkshire and Humber is a vital way to unlock the potential of the northern economy. The project will act as a catalyst for growth, delivering highly-skilled jobs and far-reaching economic opportunities.

“Yorkshire and Humber is fast-emerging as a global leader in the low-carbon technologies and this report further highlights the region’s capabilities within this sector and bringing benefits to the UK economy as a whole. Investment in this kind of infrastructure can genuinely rebalance the UK economy and enable the north of England to take its place alongside more progressive, productive and resilient Northern European regions.”

Andrew Palmer, regional director, CBI:

“It is clear from this report that a Yorkshire and Humber CCS Cluster is well placed to deliver the sort of long-term infrastructure that will deliver economic growth and reduce carbon emissions. It is critical that the UK Government acts quickly to provide investment certainty for the energy sector. Billions of pounds worth of investment are needed in energy infrastructure to keep the lights on and ensure that the UK meets our climate change targets”.

David Kennedy, chief executive, Committee on Climate Change:

“CCS is one of the most important sets of technologies in meeting our 2050 target to reduce emissions by 80%. As well as having an important role for fossil fuel power generation, and with bio-energy in the longer-term, it is a crucial option for carbon-intensive sectors including iron & steel, chemicals and cement.

“In developing a CO2 network, a clustered approach makes sense. As well as limiting the costs of CO2 pipelines, it would also lower the risk of taking up CCS for existing emitters within the local area. Such an approach could help to enable currently higher-carbon industries to stay in the UK in a carbon-constrained world, and has the potential to attract low-carbon industries over time”

Frances O’Grady, General Secretary Designate, TUC:

 

“The low carbon hub for the Aire Valley is a powerful example that green is good for growth. The great prize will be thousands of new jobs and massive inward investment, transforming the UK's highest emitting region with a huge carbon capture network for power companies and heavy industry. It will secure the region’s industries for the long term in the UK’s low carbon economy of the future.”

Professor Stuart Haszeldine, University of Edinburgh, Director of Scottish Carbon Capture and Storage:

"The UK North Sea has more potential for geological CO2 storage than any other European country; this could become an industry worth £5 billion per year – just for storage. In addition, the supply of CO2 injected as a solvent into ageing oilfields could gradually open up a whole new phase of Enhanced Oil Recovery, yielding £10 to 20 billion of additional revenue from these oilfields over 20 years whilst also storing the equivalent amount of CO2.

“The government can secure a rapid growth in the UK CCS sector by continuing to support the development of multiple projects over the next few years. The Central North Sea provides an ideal location for a CO2 storage infrastructure that can drive reductions of costs as well as expanding the supply of low-cost low-carbon electricity.

“Ed Davey has indicated that he wants two projects to be awarded funding support this month. But the multiple bidders into the Commercialisation Programme have shown that they have viable projects in locations essential for the development of future clusters. These projects also need to be kept in the UK, and not see their developers move projects abroad as happened in the past. The UK government has put itself into pole position to catalyse a vibrant CCS industry in the UK. Now it needs to deliver on its commitments."

 

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