Markets & Mandates: Policy Scenarios for UK CCS Deployment & Exploring the Role of a Carbon Takeback Obligation

Jan 21, 2025

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.

Publication details
Theme(s)
Carbon dioxide removal The meaning of net zero The urgency of zero
Type(s)
Report
Author(s)
Allen, Myles Boot, Mirte Jenkins, Stuart Sundvor, Ingrid
Year(s)
2025

Latest news

Job opening: Serviced Emissions Research & Engagement Manager
Job opening: Serviced Emissions Research & Engagement Manager

The Oxford Net Zero Engagement Team is recruiting for a Serviced Emissions Research & Engagement Manager. This pivotal role will lead a high-impact initiative focused on advancing the understanding and integration of “serviced emissions” ... Read more

New Oxford Report: Carbon Capture and Storage Without Taxpayer Billions Is Possible
New Oxford Report: Carbon Capture and Storage Without Taxpayer Billions Is Possible

Oxford Net Zero and Carbon Balance researchers reveal the risks of the current UK CCS policy mix and explore how a carbon storage mandate on fossil fuel producers could help the UK meet its climate targets while protecting public finances A ... Read more

Oxford Net Zero partners with AXA XL on research in India, Mexico and Kenya
Oxford Net Zero partners with AXA XL on research in India, Mexico and Kenya

Oxford Net Zero is excited to announce that it is working with the insurance company AXA XL, the Institute for Science, Innovation and Society (InSIS), and the Smith School of Enterprise and the Environment to conduct research on private sector ... Read more

See more news and events