Teesside could be key to government adopting a clean Industrial Strategy
The Tees Valley could be the birthplace of vital clean industrial growth, attracting inward investment and job creation, under finance proposals published today by industrial cluster Teesside Collective.
The report, funded by the Department for Business, Energy and Industrial Strategy and commissioned from Pöyry Management Consulting, sets out the business case for an Industrial CCS support mechanism that would grow the UK’s industrial base while substantially reducing carbon emissions.
Paul Booth, Chair of Tees Valley Local Enterprise Partnership and board member of Tees Valley Combined Authority, said: “There is no doubt the technologies involved in CCS are tried and tested and that Teesside has the concentration of facilities that make it the ideal place to start. The benefits in terms of long term industrial growth and emissions reduction are also clear.
“The question this report answers is whether there is a cost-effective way of making this a reality. The answer is a resounding yes. We know the demands on the public purse are great, but these are also lean industries with low margins. Working together, sharing the costs and risks opens up vast opportunity for all involved.”
Lord Oxburgh, who chaired the cross-party Parliamentary Advisory Group that published a report on CCS in 2016, said: “Applying CCS to industry represents some of the cheapest available carbon abatement in the UK economy.
“The Teesside Collective proposals offer a triple win – the greening of energy-intensive industry, meeting national carbon reduction targets and local industrial rejuvenation. I strongly recommend that Government commits to helping finance the project as a cornerstone of its emerging Industrial Strategy.”
EEF, the manufacturers’ organisation, stated: “As the UK continues to develop its post-Brexit Industrial Strategy, this proposition for industry and government to work together to sustain and regenerate manufacturing hubs around the country in a carbon-constrained world is welcome.
“With Industrial CCS essential to the decarbonisation of many energy-intensive manufacturing sectors, affordable ways must be found to get projects underway. This proposal offers a valuable insight as to how that might be achieved.”
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