Britain Pledges $28.5 Billion for Carbon Capture

08 Oct 2024 CW Team

The United Kingdom has committed up to £28.5 billion to accelerate its carbon capture and storage (CCS) projects in an effort to meet its net-zero emissions goal by 2050. The pledge comes as the nation prioritizes decarbonization and looks to strengthen its leadership in the development of carbon capture technology. CCS is viewed as a crucial component of the UK's strategy to reduce carbon emissions, particularly in hard-to-decarbonize sectors like heavy industry and energy production.

This investment will fund multiple large-scale carbon capture and storage projects, with a focus on capturing carbon dioxide emissions from industrial processes and power generation, preventing the release of CO2 into the atmosphere. The technology also enables the permanent storage of captured carbon deep underground, significantly lowering emissions.

The British government has stated that the £28.5 billion funding could support job creation, technology development, and infrastructure expansion in carbon capture. With this move, the UK hopes to incentivize innovation and industrial growth while positioning itself as a global leader in CCS.

The funding is part of the UK's broader commitment to achieving net-zero carbon emissions by 2050. CCS is increasingly seen as a key tool to decarbonize sectors that are challenging to transition, like cement production, steel manufacturing, and natural gas processing. The government expects the initiative to not only reduce carbon emissions but also ensure long-term energy security and sustainability.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..