The UK could become an early mover in the global carbon capture utilisation and storage (CCUS) market and create up to 50,000 jobs if new enabling policies are introduced. More than 50,000 jobs in carbon-intensive industries would also be safeguarded. The Carbon Capture and Storage Association (CCSA) published a report on the scaling up of CCUS technologies in the UK over the next decade. With support from engineering consultancy Afry and Cambridge Econometrics, the report explores CCUS opportunities based on the Government’s Ten Point Plan and the Climate Change Committee’s (CCC) Sixth Carbon Budget.
Under the Ten Point Plan, the UK would capture 10 million tonnes of CO2 annually by 2030, whereas the CCC’s modelling on the Sixth Carbon Budget recommends capturing 22 million tonnes per year by 2030. As part of the Sixth Carbon Budget, Prime Minister Boris Johnson has agreed to legislate a new target to reduce national emissions by 78% by 2035.
A low carbon steel project design has been awarded to Dastur Energy by the U.S. Department of Energy. The company announced this Monday that it was awarded with the design and engineering project that aims to capture and sequestrate carbon emissions from steel production.
Firstly, the project will capture CO2 emissions from a major steel producer in North America; it will capture up to 2 mtpa from the available blast furnace gases. This would be the first industrial-scale carbon capture project for the steel sector in North America.
Secondly, Dastur Energy is the prime recipient of the award; however, it will receive the support of Boulder, CO based ION Clean Energy, Inc. and Austin, TX based University of Texas at Austin’s Jackson School of Geosciences.
Customers, employees, and investors are rejecting companies that don’t act to implement sustainable business practices. Accelerated business action for sustainability will certainly have dramatic positive impacts on people and planet, but it’s also the greatest economic opportunity of our time. We must reinvent business to be both profitable and sustainable. To do this we must put people and planet and profits on equal footing. Being a sustainable business is as much about the vitality of your workforce and local communities as it is about health of the environment. As the building blocks of the global economy, businesses need to transform their strategies, operations, and networks to achieve our shared global goals of a cleaner planet and more inclusive, equal societies.