🔴 The Chancellor’s pledge to invest £20bn over two decades in carbon capture and storage was an important budget measure, but nowhere near the scale needed for Britain to reach its net zero targets, experts said Budget2023
, telling MPs that ministers were “still in negotiations” with the projects involved. No money will be made available before the next general election.that the UK was not only at risk of missing its targets but of losing out economically to the EU and US.
However the Climate Change Committee , which advises the Government on reaching its climate commitments, said in a report last week that it would be necessary to get UK power generation to net zero by 2035. David Joffe, acting director of analysis at the Climate Change Committee, said: “It’s not helpful to pitch technologies against each other, when we know we’ll need a range of technologies in order to decarbonise.
Some of the solution to that problem is likely to come from nuclear, which the Chancellor reclassified as “environmentally sustainable”, granting the industry access to the same fiscal support as renewables.
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