The UK has made a binding commitment to reach net zero emissions by 2050 and Carbon Capture and Storage (CCS) is seen as a key component of getting there. In the March 2020 spring budget statement the UK Government committed a minimum spending of £ 800million to promote the development of CCS and help address the concerns regarding the cost of CCS. Here we find that a Government investment of £ 1.75 billion in critical CO2 transport and storage infrastructure over a 6 year period can be an effective stimulus to the economy while importantly laying the foundations for reducing emissions from key industries over the coming decades. Ultimately, the cumulative 30-year GDP boost associated with the investment equates to around £ 0.2 million of cumulative GDP per £ million spent in a time frame up to 2026. Importantly given current COVID-19 related circumstances, the investment can lead to the almost immediate creation of thousands jobs in a number of sectors. Over a 6 year period the job creation associated with the expansion leads to an additional 3,850 full-time equivalent (FTE) jobs in the first year, between 2,250 and 2,670 additional FTE jobs in each of the subsequent 4 years, and 1,700 in 2026. The societal return is the transitory creation of one additional job per £ 1million spend in the 6 year time frame. As is common with any large public investment, consideration should be given to the subsequent effects on prices and exports which may be constrained as a result. Beyond our analysis, a key question remains how a large-...
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Round-ups are the summaries of handpicked papers around trending topics published every week. These would enable you to scan through a collection of papers and decide if the paper is relevant to you before actually investing time into reading it.
Coronavirus Research Articles published between Oct 11, 2021 to Oct 17, 2021
Oct 18, 2021
Articles Included: 3
Muhammad Ikbal and colleagues (2021) reported in ‘Visualisasi dan Analisa Data Penyebaran Covid-19 dengan Metode Klasifikasi Naïve Bayes’ that the cov...Read More
Climate change Research Articles published between Oct 11, 2021 to Oct 17, 2021
Oct 18, 2021
Articles Included: 5
Junjie Jia et al. (2021) reported in ‘Driving mechanisms of gross primary productivity geographical patterns for Qinghai–Tibet Plateau lake systems’ t...Read More