This landmark report by the Carbon Balance Initiative, Oxford Net Zero and the Carbon Capture and Storage Association explores policy pathways to achieve the UK’s carbon storage targets and net zero commitments. Achieving the UK’s legally binding 2050 net zero target requires a strategy to rapidly reduce fossil fuel use and scale up permanent geological CO2 storage to balance any residual emissions. With the UK aiming to store 50 megatonnes of CO2 annually by the mid-2030s, and the Department of Energy Security and Net Zero (DESNZ) having committed £21.7 billion in CCUS subsidies, this report examines whether carbon storage mandates – particularly a Carbon Takeback Obligation – could help establish a self-sustaining market whilst reducing the reliance on government support.
Read more on the Carbon Balance website.
