Yorkshire and Humber are the most ideal location for Carbon Capture and Storage (CCS) in Europe, according to a new report.
Investing in CCS in the area will give a major boost to the UK economy, delivering £1.3bn and 4,000 skilled-jobs, found the research commissioned by CO2Sense on behalf of the Yorkshire and Humber CCS Cluster Steering group.
It comes days before the Government is due to announce the winners of one billion pounds worth of funding and finance measures, under the Electricity Market Reform, for a national CCS commercialisation programme.
One of the UK’s highest emitting regions, creating a low-carbon development zone in Yorkshire and Humber could make it one of the cleanest and most successful, suggested the report. Two major projects in the area have been shortlisted for the funding.
Barry Dodd, Chairman of CO2Sense said: “This report gives conclusive evidence for the business case for investing in CCS in Yorkshire and Humber. The opportunities for the supply chain – valued at up to £251million – are enormous, as are the potential for inward investment in the area. We want to see the government back these plans, which will bring so many opportunities for the UKs businesses.”
The paper has been backed by Julian Smith, Conservative MP for Skipton and Ripon. He said: “This report shows us exactly why investing in the Yorkshire and Humber CCS is the right move for the government. The region has the right concentration of heavy emitters that are working together to back this infrastructure, alongside ideal storage sites in the North Sea.
“We have the chance to make Yorkshire and Humber an internationally renowned hub for low carbon technology and expertise – providing opportunities and jobs for generations to come.”