The government unveiled its draft Carbon Plan this week. It is supposedly a scheme to tackle climate change, but in reality it is a plan to use the free market to back up business.
It includes plans to establish a “green investment bank”. And the Department of Energy and Climate Change will award a contract for the first carbon capture and storage (CCS) project by the end of the year.
CCS has not been tested on a large scale. It is not a green or energy-efficient technology—carbon is emitted at every stage of the carbon capture process. It allows companies to continue emitting carbon.
The government says it will hand £1 billion to a private company to develop the first CCS project.
The government talks of setting a minimum price for carbon, which it says would benefit green energy providers. But this accepts the disastrous system of carbon trading and offsetting, where companies buy the right to pollute more.