UK Chancellor Rachel Reeves has announced a £22 billion ($28.97 billion) investment in carbon capture and storage (CCS) projects in Merseyside and Teesside. Spread over 25 years, the funding will support capturing emissions from energy producers, industry, and hydrogen power, aiming to help the UK meet climate goals and create thousands of jobs.
The projects, backed by BP, Equinor, and Eni, will expand on earlier efforts to capture up to 30 million tonnes of CO₂ annually by 2030. While some environmental groups support the initiative, others argue the money would be better spent on offshore wind and home insulation.