The Humber has a “critical role” in reaching the nation’s decarbonisation targets – with investment in carbon capture projects having the potential to support tens of thousands of jobs in the region, Drax-commissioned research has said.
A new independent research report by Development Economics found that if the Government accelerates and expands the development of Carbon Capture and Storage Clusters across the country it could generate an extra £32bn of gross value added for the economy from 2050 onward and nearly 500,000 additional jobs. In the most optimistic scenario, this could generate and support an extra 42,000 jobs in The Humber.
The report said that the region “will play a critical role in reaching Government’s decarbonisation targets” thanks in part to having access to 80 per cent of UK’s licenced CO2 storage capacity. It added: “If the Humber is able, and enabled, to move quickly to adopt CCS technologies, either through Track 1 or Track 2 cluster processes, it will offer growth opportunities for the region, as well as benefits for industries, communities and consumers that will reverberate around the UK.
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