Industrial Decarbonisation Cluster Plan: Economic Impact Analysis
RPA worked with lead consultant Cambridge Econometrics to carry out an economic impact analysis for the Tees Valley Combined Authority (TVCA). This analysis was needed to support the development of the Tees Valley Cluster Plan. The Plan, which is funded by the UK Government’s Industrial Decarbonisation Challenge, sets out how the Tees Valley Industrial Cluster will deliver net zero by 2040.
RPA’s work involved identifying the investment, regulatory and policy blockages to achieving the Cluster Plan. It also included investigating private and public investment models and making recommendations on these. The scope additionally covered review of government business models for industrial carbon capture, CO2 transport and storage companies, hydrogen, and bioenergy with carbon capture and storage.
Our approach involved a mixture of internet research and literature review, supplemented by company data and interviews with representatives from the businesses in the cluster. This enabled us to find out first-hand about the issues that could affect the progress of cluster industrials towards net zero.
RPA’s findings have been incorporated into the Cluster Plan Key Findings document, which was produced by TVCA, bp and NEPIC. This can be found within the Net Zero section of TVCA’s website at: Tees Valley