Sir Keir Starmer announced a £22 billion investment to develop carbon capture technologies, aiming to create 4,000 direct jobs and support 50,000 long-term jobs in the UK.
The investment will provide certainty for businesses over the next 25 years and is expected to help revitalize industrial regions like Merseyside and Teesside.
Starmer emphasized the importance of this investment by stating, "Today's announcement will give industry the certainty it needs, committing to 25 years of funding in this groundbreaking technology."
Carbon capture and storage technology is seen as vital by the IEA and Climate Change Committee in combating climate change and enabling the production of low-carbon hydrogen.
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