Decarbonising Industry: UK Government Pledges £22bn for Carbon Capture and Storage

The UK Government has committed £22 billion to support carbon capture and storage (CCUS) projects in Teesside and Merseyside. These projects are expected to bring in an additional £8 billion from private investors.

These initiatives are expected to create around 4,000 jobs and could support up to 50,000 jobs in the long term. Over the next 25 years, this funding will be a key part of the UK's strategy to decarbonise industrial sectors and promote sustainable economic growth.

The announcement precedes the upcoming International Investment Summit, where the UK aims to secure further investment in clean energy technologies. This follows Britain's historic milestone of ending over 150 years of coal-fired electricity generation, marking a significant step in the transition to a low-carbon future.

Read more: UK pledges £22bn for carbon capture