£22bn for 'unproven' green tech could raise bills, MPs warn

The U.K. government has signed contracts with CCUS developers, pledging around £22bn for CCUS facilities. 75% of the funding will be raised from consumer bills. That is around £16.5bn. The government said that it expected the funding for CCUS to unlock £8bn in private sector investment over the next 25 years.

However, the contracts do not contain a guarantee that if the projects were to be successful that the government - and the public - would receive profits or benefits such as lower energy bills. It offers a significant opportunity for venture capitalists, but Is that a good deal for taxpayers?

Government action alone will not be sufficient to combat climate change, and it has a very low prospect of limiting the increase in temperature to 1.5 degrees above pre-industrial levels.

What Can You Do To Help?

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Register for our accredited carbon literacy training courses at https://peakgovernance.co.uk/accredited-carbon-literacy-training

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https://www.bbc.co.uk/news/articles/ce8jpj3z3n2o