Boris Johnson: “The UK will become the Klondike of carbon capture and storage”

During his speech at the Global Investment Summit, the Prime Minister announced that deals worth £9.7bn have been secured to boost renewable energy technologies

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The Prime Minister has today unveiled the government’s ambition to make the UK the Klondike of carbon capture and storage and the Qatar of hydrogen.

Addressing the Global Investment Summit Boris Johnson said the private sector has a pivotal role to play in the fight against climate change.

In his speech, the Prime Minister talked about a package of 18 deals that the UK has already secured.

These plans worth £9.7 billion are predicted to create at least 30,000 new jobs across the UK.

The deals support growth in sectors, including wind and hydrogen energy, sustainable homes and carbon capture and storage.

Boris Johnson said: “Green is good. Green is right. Green works. And that is the way ahead for the whole planet.

“This COP26 must be the moment when the government joins hands with the private sector together. We should be setting the parameters, the strike prices, the Contracts for Difference for this green technology.

“We should be using this moment collectively as government to leverage in the trillions of the market creating the country platforms that will not only tackle climate change but deliver green jobs and green growth around the world.”

The Prime Minister also launched with Bill Gates a £400 million partnership to boost green investment in clean energy technologies.