New technologies, such as CCUS and low carbon hydrogen solutions, can play a part in the UK’s economic recovery, post COVID-19, according to Energy UK.
On 22 June, it published a report, Rebuilding the UK economy: Fairer, cleaner, more resilient, together with PwC, setting out the policy framework, investment and incentives that could accelerate the economic recovery and aid the UK’s efforts to tackle climate change. Among its recommendations, the report called for accelerating the development of regional industrial clusters and local supply chains, ensuring that growth opportunities are shared across the country, helping local communities and businesses to recover.
Accelerating development of CCUS and low carbon hydrogen solutions would play a key role here, along with launching long-term planning for the decarbonisation of industry through regional industrial clusters. It also recommended fostering greater supply chain resilience and reducing imported carbon emissions by incentivising onshoring of selected supply chain manufacturing and production.
Audrey Gallacher, Interim Chief Executive at Energy UK, said: “Our world-leading role in low carbon technologies means we have a head start, but to hold onto this position and reap the rewards we must act quickly before other countries steal a march. By working in partnership with Government to get the right policy framework and incentives in place, our industry stands ready to build further on the £14 billion it already invests every year to power our economic recovery and help meet the net zero target.”