In its fight to reduce its carbon emissions to net-zero by 2050, the United Kingdom announced an investment of €26 billion over the next 25 years.

The announcement, published Thursday, October 3, in the Financial Times, states that “the projects called HyNet and East Coast Cluster aim to capture emissions from factories and power plants in the north of England and north Wales and store them on the seabeds of Liverpool Bay and the North Sea, respectively.”

The technology they will apply in this crucial project involves “capturing carbon dioxide as it is produced, compressing it and pumping it underground, sometimes into disused oil and gas deposits, to prevent it from being released into the atmosphere.”

In 2023, the world’s carbon capture capacity was 51 million tonnes, representing 0.14% of global emissions, according to the energy research organization BloombergNEF.

Regarding the United Kingdom, the European nation “emitted 384.2 million tonnes of carbon dioxide equivalent in 2023, according to provisional figures from the Government, and it is not the first time that the country has shown interest in CCS projects.”

The Labour Government’s project is expected to capture between 20 and 30 million tonnes of carbon dioxide before 2030, as well as “providing peace of mind and providing certainty to heavy industry in its attempt to decarbonize.”

M.Pino

Source: elperiodicodelaenergia

(Reference image source: Getty Images for Unsplash+)

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La entrada UK to invest €26 billion in carbon capture over next 25 years apareció primero en Bitfinance.