Projects per year
Abstract
Government and industry in oil and gas producing nations are increasingly considering development of carbon capture and storage (CCS) as both a deep emissions reduction solution and route to transitioning extraction supply chains. We develop a computable general equilibrium model of the UK economy to investigate the economy-wide impacts of introducing a new carbon dioxide (CO 2) transport and storage sector supplying national capacity to support decarbonisation of four of the main mainland industrial clusters, located in the North England and Scotland. We consider key issues including the implications of the new sector's infrastructure intensity and the need for both upfront investment and action to guarantee demand for the initial capacity. We examine the challenges of funding the sector, particularly the UK Government's stated preference to move to a ‘polluter pays’ approach in the medium term. We find that such an additional cost burden could impact the international competitiveness of industries concentrated in the four regional clusters, with consequent offshoring of industry demand and activity. The associated job losses bring potential conflicts with the UK Government's regional ‘levelling up’ agenda, triggering reconsideration of what policymakers should anticipate in terms of the ‘green growth' potential of CCS in an industrial decarbonisation context.
Original language | English |
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Article number | 107547 |
Number of pages | 12 |
Journal | Ecological Economics |
Volume | 201 |
Early online date | 11 Aug 2022 |
DOIs | |
Publication status | Published - 30 Nov 2022 |
Keywords
- CGE models
- carbon capture and storage
- economy-wide impacts
- industrial decarbonisation
- new industry development
- competitiveness
Fingerprint
Dive into the research topics of 'Policy trade-offs in introducing a CO2 transport and storage industry to service the UK's regional manufacturing clusters'. Together they form a unique fingerprint.Projects
- 1 Finished
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Accounting and scenario analyses to measuring and unlocking value to enable just transitions in the decarbonisation of UK industrial clusters - BRIDGE
Turner, K. (Principal Investigator) & Race, J. (Co-investigator)
1/12/21 → 30/04/22
Project: Research
Datasets
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A 2016 UK SAM for CCS deployment
Katris, A. (Creator), University of Strathclyde, 29 Mar 2021
DOI: 10.15129/ad64a94c-152d-4ec7-a3a5-4e4a13576a3a
Dataset
Activities
- 1 Media Participation
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Interview on wider economy impacts of CCUS and links to hydrogen for HIL eMagazine
Katris, A. (Interviewee)
14 Jun 2024Activity: Public Engagement and Outreach › Media Participation