June 2022
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This conference examined the key priorities for negative emissions technologies (NETs) in the UK, including in hard-to-abate sectors.
It was a timely opportunity to examine current technology readiness and their durability - as well as looking ahead at priorities for further innovation and progressing deployment at scale.
The discussion took place in the context of:
- the Net Zero Strategy target of 5 MtCO2/year of engineered removals by 2030
- the latest IPCC Climate Change 2022: Mitigation of Climate Change report citing carbon removal as essential in meeting net-zero targets
- the unveiling of plans to bring forward a new Energy Bill in The Queen’s Speech, announcing legislative changes to boost new technologies and introduce new business models
- new government funding to support industry to reduce its reliance on fossil fuels through carbon capture and new technologies
- a range of consultations due to be published on the business models for engineered greenhouse gas removals (GGRs), as well as on the core monitoring, reporting and verification (MRV) principles for GGR technologies
Sessions in the agenda looked at:
- potential - engineered GGRs in the UK: policy - targets - latest developments
- innovation - implementation of the portfolio approach - assessing technology readiness - preparation of supply chains - developing skills & the employment market
- system development - establishing a reporting framework for emissions & removal - tracking progress - consideration of lifecycle emissions
- measurement - standards for: monitoring - reporting - verification of negative emissions
- role in net-zero objectives - effectiveness in offsetting emissions - interaction with carbon pricing policy - consistency - transparency - confidence
- hard-to-abate sectors - options for: policy - support - further incentives
- investment - priorities: a liquid market for carbon removals - revenue stream stability - investor confidence
- policy - business model development - addressing market barriers - 2050 decarbonisation targets - positioning the UK as a leader in GGR
We were pleased to be able to include keynote sessions with Jo Warner, Deputy Director, Net Zero Frameworks, BEIS; and Nathan Wyatt, Assistant Director, National Infrastructure Commission.
There were further contributions from: Carbon Engineering; the CCSA; The Crown Estate; Drax; the Energy Systems Catapult; Frontier Economics; Imperial College London; the International Emissions Trading Association; Microsoft UK; Offshore Energies UK; and Watson Farley & Williams.
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from BEIS; Defra; HM Treasury; the Planning Inspectorate; CMA; DIT; Department for the Economy, NI; the DfT; DAERA, NI; DAFM, ROI; and the Department of Finance, NI; European Commission; FCDO; Infrastructure & Projects Authority; Veterinary Policy Research Foundation; and the Welsh Government.
