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Scotland’s carbon capture sector could generate £300m in annual GDP

More than 3,000 full-time equivalent (FTE) jobs could be supported and £300 million generated for the wider UK economy through the establishment of a CO2 transport and storage (T&S) sector in Scotland linked to the deployment of carbon capture utilisation and storage (CCUS).

The findings, published in a report from the Centre for Energy Policy (CEP) at the University of Strathclyde, suggest that action on worker and skills shortages will be key to realising these economic gains.

The jobs and GDP figures for a T&S sector that is fully operational by 2030 are respectively 300% and 84% higher than estimates for a scenario where no action is taken to alleviate current and persisting labour market constraints and pressures.

The study was undertaken by CEP as part of the Scotland’s Net Zero Infrastructure (SNZI) programme – funded by UKRI’s Industrial Decarbonisation Challenge and focusing on the Acorn T&S system, one of four supported by the UK government.

Economic gains could be further amplified if a Scottish T&S sector develops an export market to sequester emissions from elsewhere in the UK or overseas. The full-time equivalent jobs supported could increase to just over 4,900 and GDP to nearly £490m per annum by 2042. These projections are based on continuing government support into the early 2040s.

 

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