Greenhouse Gas Emissions: New Businesses
The question
To ask the Secretary of State for Energy Security and Net Zero, what discussions his Department has had with investors on supporting greenhouse gas removal startups.
Answered by Michael Shanks
The Government has developed a Greenhouse Gas Removal (GGR) Business Model to incentivise private investment in large-scale GGR projects through a contractual revenue support mechanism.
The Government has also commissioned the British Standards Institution (BSI) to develop GGR methodologies, which will be crucial to instill public and investor confidence that removals are genuine and verifiable.
As part of the GGR Business model and GGR methodology development the Government and BSI respectively are engaging with potential GGR investors and offtakers as key stakeholders.
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