According to a study from the Carbon Capture and Storage Association (CCSA), greater support for the sector could secure around £40bn of inward investment by 2030.

But without this, many projects are thinking about moving to countries that are backing the technology more vigorously.

The CCSA wants the government to accelerate permitting and consenting options for carbon capture projects, make efforts to build public support for the sector and ensure “timely delivery” of its promised £20bn funding, which was announced in the Spring Budget.

Since March 2022, the number of projects planned for the UK has grown from 55 to more than 90 – with enough schemes now in the pipeline to capture around 94 million tonnes of CO2 per year – up 29 per cent from 73 million tonnes last year.

This is equivalent to more than a quarter of total UK emissions, and the projects would protect thousands of jobs in existing industries that currently emit large amounts of CO2, such...