Carbon Capture and Storage Fund - United Kingdom commits £35 million

News Brief | 14 December 2012

The Government of United Kingdom contributes £35 million to the Carbon Capture and Storage Fund. United Kingdom joins the Global Carbon Capture and Storage Institute in support of the fund.

Description

The Carbon Capture and Storage Fund (CCSF) under the Clean Energy Financing Partnership Facility aims to accelerate the demonstration and deployment of carbon capture and storage technologies by promoting projects, engaging in capacity development, supporting geological investigations and environmental studies related to potential carbon dioxide storage sites, and undertaking community awareness and support programs. All of ADB's developing member countries are eligible to access resources from the fund for activities aligned with ADB's Energy Policy. CCSF resources may be accessed through relevant ADB departments and are meant to be used for technical assistance projects, grant component of investments and direct charges in compliance with the general eligibility criteria, which include (i) consistency with ADB's Clean Energy Program, (ii) introduction of innovative solutions, (iii) adoption of participatory approach, (iv) high demonstration value in the sector, and (iv) potential for replication in the country and/or region.

Amount 

£35 million