Is the UK's Carbon Capture Push Strong Enough?: BNEF

The UK government has pledged £22 billion to support carbon capture projects, aiming to enhance its capacity to capture and store carbon dioxide. Despite this significant investment, the UK faces challenges in meeting its target of 20 to 30 million tons of carbon capture by 2030, as current projects only account for a fraction of this goal. The EU, while having more ambitious targets, has allocated less funding compared to the UK. The disparity in funding and targets highlights the challenges both regions face in advancing their carbon capture initiatives.

What amount did the UK government pledge to fund carbon capture projects?

What is the estimated annual carbon dioxide capture capacity that the funded projects will contribute?

What is the target for carbon dioxide capture and storage capacity set by the UK government by 2030?

What are the challenges mentioned regarding the carbon capture projects?

How does the funding for carbon capture projects in Europe compare to that in the UK?