Head of Energy, Infrastructure and Sustainability at Johnston Carmichael comments on UK Government carbon capture announcement

31/07/2023
Mark Stewart, head of Energy, Infrastructure and Sustainability at Johnston Carmichael


FOLLOWING Prime Minister Rishi Sunak’s announcement that Aberdeenshire’s Acorn CCS project is being awarded Government funding, Mark Stewart, partner, Corporate Finance and head of Energy, Infrastructure and Sustainability at accountancy and business advisory firm Johnston Carmichael, said:

“Rishi Sunak’s visit to Aberdeenshire is to be welcomed, as it signals support for Scottish based Carbon Capture projects, but the amount of funding being provided is a small drop in the ocean compared with the investment that is required to sustain the UK’s transition to net zero. We need billions, not millions, to conquer climate change.

Subscribe to our daily newsletter

Why? Free to subscribe, no paywall, daily business news digest.

“We also need to understand the wider programme for carbon capture technology. The UK, especially Scotland, is well positioned to use our existing oil and gas infrastructure to store carbon, and carbon capture could play a significant role in the energy transition. However, it cannot be a replacement for developing more cleaner and greener renewable energy. We all acknowledge that transition will be a long-term process, and energy security is vitally important, but transition we must, and that ambition can’t be diluted.”

The latest stories