The UK government has committed £200 million to the Acorn Carbon Capture and Storage (CCS) project in Scotland, signaling strong support for the country’s ESG and carbon neutral strategy. This major investment aims to secure a Final Investment Decision (FID) within this parliamentary term and reinforces the government’s pledge to decarbonize hard-to-abate sectors. 

Located at the St Fergus Gas Terminal, the Acorn project is led by Storegga, in partnership with Shell UK, Harbour Energy, and North Sea Midstream Partners. The initiative will leverage 175 miles of repurposed pipeline to transport CO₂ emissions to storage sites beneath the North Sea. The funding also supports the SCO₂T Connect initiative, which enhances national infrastructure for CO₂ transport. 

Key Highlights: 

• 18 million tonnes of CO₂ capture capacity expected from Acorn and England’s Viking project combined. 

• Project expected to create and protect thousands of skilled jobs in Scotland and across the UK. 

• Part of a wider £9.4 billion CCS commitment over the current spending period, with £21.7 billion earmarked over the next 25 years. 

According to Tim Stedman, CEO of Storegga, “Acorn’s strategic value goes beyond emissions reduction. It protects vital industries and unlocks new economic growth.” 

The investment aligns with the UK’s net zero by 2050 target, establishing Acorn as a cornerstone project in its clean energy future. With significant economic and environmental benefits, this move demonstrates the UK’s leadership in CCS and supports broader global climate goals through innovative infrastructure and policy-backed ambition. 

Source: 

https://esgnews.com/uk-commits-200m-to-acorn-carbon-capture-project-advancing-net-zero-goals/