A group of private and public sector partners driving major decarbonisation plans for the Humber have called on the Government to help them “unlock” £15bn in private investment.
The Humber Energy Board – set up in 2022 to steer the region’s 2040 Net Zero ambition – has published a report that details how investment could be triggered, and thousands of jobs created, with the correct support from Westminster. Authors of the ‘Delivering the Vision’ document call for a number of measures, including the creation of a large scale carbon transport and storage network for the region; speeding up development of new hydrogen markets and prioritisation of additional power grid capacity for the region.
Ahead of this month’s Budget, the group has called for urgent clarification on Carbon Capture and Storage Cluster sequencing and Hydrogen Allocation Round; acceleration of low carbon infrastructure through the planning process, and encouraging the growth of nascent markets.
Richard Gwilliam, chair of the Humber Energy Board, said: “Businesses across the Humber are ready to invest over £15bn in decarbonisation projects that will drive growth, protect energy security, create tens of thousands of jobs and slash our carbon emissions. In Delivering the Vision we set out the policy support needed to unlock this investment, including the creation of a regional CCS network, new hydrogen markets and power grid upgrades.
“Following recent support for CCUS in Teesside and the North West, we urge the Chancellor to listen to our recommendations and fulfil the promise of her party conference speech to make CCS jobs in the Humber a reality. This will ensure the region can continue to power Britain and help deliver the country’s carbon reduction targets.
“We believe the transformation and decarbonisation of the Humber is essential to delivering the economy of the future and the UK’s ambitious climate targets, but time is ticking. Unless there is urgent action from the UK Government, we could see businesses take their money elsewhere, prioritising investments overseas rather than in this key geography for UK energy security.”
Melanie Onn, MP for Great Grimsby and Cleethorpes, said: “The Humber Energy Board has a clear plan to support the delivery of the Government’s missions of growth and clean power. With £15bn worth of private sector funds ready to invest, and tens of thousands of future job opportunities for our region, making progress on the delivery of a carbon capture pipeline in the Humber is the first step towards unlocking the potential of this industrial heartland, and ensuring decarbonisation does not mean deindustrialisation for our communities.”
Paul Fursey, lead executive UK & general manager Humber Refinery at Phillips 66 and HEB member, said: “This report sets out a clear roadmap for a thriving, lower-carbon industrial cluster which can be effectively delivered if we have the necessary support from Government. Our investment in lower-carbon technologies will not only act as an anchor for future carbon capture pipelines but attract significant investment to the region.
“This will also foster the development and innovation of new technologies for hard-to-decarbonise sectors, such as sustainable aviation fuel. Through the Humber Energy Board, we look forward to working with the UK Government to ensure we can deliver our plans in time for binding climate targets.”
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
