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uk carbon border adjustment mechanism

CCS trade body urges funding certainty ahead of UK spending review | CCS

Trade body the Carbon Capture & Storage Association (CCSA) is urging the UK government to provide long-term certainty and commit funding to advance pre-selected CCUS Track-1, Track-1 expansion and Track-2 projects in the spending review on 11 June. Its policy wish-list also extends to establishing regular allocation funding rounds for other CCUS projects within the same timeframes, and advancing efforts to remove barriers to a cross-border carbon market within Europe, along with “quick progress” on UK–EU ETS alignment and the UK Carbon Border Adjustment Mechanism. Despite the UK government committing $22bn to developing hydrogen and CCS in the next 25 years, economic pressures threaten to stall the pace of development of key projects. … to continue reading this article and more, please login, register for free, or consider subscribing to gasworld You’ve reached your weekly… Read More »CCS trade body urges funding certainty ahead of UK spending review | CCS

US tariffs on steel would be ‘devastating blow’ for UK | United Kingdom

President Trump’s proposed 25% tariffs on steel and aluminium imports into the US on top of existing duties would be a ‘devastating blow’ to the UK industry, according to the UK Steel Director General. Gareth Stace said the US is the UK’s second largest export market after the EU and at a time of shrinking demand and high costs, rising protectionism will stifle exports and damage over £400m-worth of the steel sector’s contribution to the UK’s balance of trade. “It is deeply disappointing if President Trump sees the need to target UK steel, given our relatively small production volumes compared to major steel nations,” he said. The UK supplies the US with products for defence, aerospace, stainless, and other critical sectors, exporting around 200,000 tonnes annually. It is currently partially shielded from the effects of… Read More »US tariffs on steel would be ‘devastating blow’ for UK | United Kingdom