The “deep pockets” of the oil and gas (O&G) industry could be crucial in accelerating the deployment of renewables, the IEA has said in a new report.
The political debate over a net zero date risks “distracting attention” from the actions the next government will take, the UK Energy Research Centre (UKERC) has said.
The Labour Party has unveiled a report on the fastest pathway to decarbonising by 2030, which would require a ‘vast expansion’ of renewables and result in a net benefit of £800 billion.
Secretary of state for Business, Energy and Industrial Strategy (BEIS) Andrea Leadsom, spoke to the BEIS Committee on the 15 October, highlighting that the departments “number one priority” is meeting the UK's net zero goal.
The government is exploring new funding models for nuclear and Carbon Capture Usage and Storage (CCUS) projects, announcing up to £18 million for the development of small modular reactors (SMR).
The UK’s first industrial-scale Carbon Capture and Utilisation (CCU) demonstration plant is to be built by Tata Chemicals Europe (TCE), as the government announces £26 million of funding.