Beis is exploring different support mechanisms
UK launches consultation on greenhouse gas removal policy
The government is leaning towards introducing a contract scheme for negative emissions
The UK government’s Department for Business, Energy and Industrial Strategy (Beis) has launched a consultation on potential support mechanisms for greenhouse gas removal (GGR). The consultation follows a joint study with consultancy Element Energy into how mechanisms could support GGR projects, which are difficult to finance due to the lack of a clear revenue stream. The government aims for 23mn t/yr of CO₂ removal and permanent storage by 2035. A combination of lower negative emissions credit prices, reduced options for abatement and a “more stringent carbon price” will support demand for GGR, says Beis. Beis will close the consultation on 27 September and intends to publish detailed policy
Also in this section
30 January 2025
The UAE’s oil and gas company puts its faith in technologies including CCS and AI to deliver its emission-reduction goals
27 January 2025
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
24 January 2025
Progress on the energy transition has slowed or even stopped, with greater societal engagement we can revitalise it
23 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
