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Government pledges £22bn for carbon capture and storage technology in net zero drive

  • The Government has committed up to £21.7 billion over 25 years for subsidies to carbon capture projects in Teesside and Merseyside starting from 2028.
  • Sir Keir Starmer stated this announcement will "give industry the certainty it needs" and "help deliver jobs" while boosting growth.
  • The plans aim to attract £8 billion in private investment, create 4,000 jobs, and support 50,000 long-term in the UK.
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Great Britain plans to invest the equivalent of around 26 billion euros in the underground storage of climate-damaging CO2.

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WDC TV News broke the news on Thursday, October 3, 2024.
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