Moved by
Lord Oxburgh
3: After Clause 70, insert the following new Clause—
“Carbon capture and storage strategy
(1) It is the duty of the Secretary of State to—
(a) develop, promote and implement a comprehensive national strategy for carbon capture and storage (CCS) to deliver the emissions reductions required to meet the fifth, and subsequent, carbon budgets at the scale and pace required;
(b) develop that strategy in consultation with HM Treasury, the Department for Business, Innovation and Skills, the Oil and Gas Authority and other relevant stakeholders including the CCS industry; and
(c) have that strategy in place by June 2017 and report to Parliament on the progress of its implementation every three years thereafter.
(2) The strategy provided for by subsection (1) shall, amongst other things, include—
(a) the development of infrastructure for carbon dioxide transport and storage;
(b) a funding strategy for implementation including provision of market signals sufficient to build confidence for private investment in the CCS industry;
(c) priorities for such action in the immediate future as may be necessary to allow the orderly and timely development and deployment of CCS after 2020;
(d) promotion of cost-effective innovation in CCS; and
(e) clarification of the responsibilities of government departments with respect to the implementation of the strategy.”