UK commits £22 billion to carbon capture projects despite rising costs

The UK government will invest £21.7 billion ($28.5 billion) over 25 years in carbon capture technology, focusing on three of eight planned projects. This funding aims to capture 3 million tons of CO2 annually, significantly lower than earlier targets of 20-30 million tons. Rising costs have limited the scope of the projects, which include the East Coast Cluster and HyNet. The government plans to build transport and storage networks for these clusters, with private investment expected to create 4,000 jobs. Investment decisions for the projects have been delayed, originally set for last year. The National Audit Office has raised concerns about the UK's reliance on carbon capture to meet net zero goals amid these challenges.