Business leaders from north east Scotland have come together to urge the UK Government to support the Acorn carbon capture and storage (CCS) initiative, stressing the importance of treating it as an “urgent priority.”
In a letter to Chancellor Rachel Reeves, they are calling for immediate progress on this key CCS project based in Aberdeenshire. The leaders warn that without the project, Scottish industry will have no clear path to decarbonize, jeopardizing jobs and investment.
The letter is signed by several prominent organizations, including the CBI, Prosper, the Institute of Directors, Scottish Financial Enterprise, Scottish Chambers of Commerce, and Sir Ian Wood, Chairman of ETZ Ltd.
According to an economic impact assessment, fast-tracking the Acorn project could contribute £17.7 billion (~$22.9 billion) to the UK’s GDP by 2050, create over 10,800 construction jobs, and maintain 4,700 long-term operational positions.
Sir Ian Wood emphasized, “Acorn CCS is a crucial catalyst needed to protect skilled jobs and unlock billions of pounds in investment. The UK Government must act now to develop this transformational opportunity that will support industrial decarbonisation across the UK as well as much-needed economic growth.”
The letter also suggests that expediting Acorn’s development would facilitate SSE’s carbon capture plans at its Peterhead facility through a proposed new power station with a potential output of 900MW.
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It argues that advancing CCS at Peterhead is crucial for the next phase of industrial decarbonization at Grangemouth. Without CCS, the letter warns, escalating carbon costs could place Grangemouth at a competitive disadvantage, resulting in additional job losses and further industrial decline.
The Grangemouth refinery is scheduled to transition into an import terminal soon, leading to the loss of 400 jobs.
Dr. Liz Cameron, Chief Executive of the Scottish Chambers of Commerce, stated, “Scotland cannot afford further delays on Acorn CCS. The Government has pledged a just transition for our workforce, but those promises must now be matched with decisive investment.”
The UK Government has already provided funding for two similar CCS clusters in Merseyside and Teesside.
