Ashurst Wins Multi-Million Carbon Capture Mandate
The firm will advise the UK government on developing carbon capture, usage and storage business models.
June 23, 2020 at 04:45 AM
2 minute read
U.K. law firm Ashurst has won a mandate from the British government to advise on a programme to develop the country's carbon capture, usage and storage capabilities.
Ashurst will advise the department for business, energy and industrial strategy (BEIS) which has oversight on the programme.
The contract itself is worth £4.6 million over a period of two years, ending in May 2022, according to government website information.
As part of the mandate, Ashurst will advise BEIS on the overarching design of carbon capture usage and storage (CCUS) business models and the work programme to enable deployment during the coming decade and beyond.
CCUS refers to the capture of carbon dioxide emissions for future use, such as converting the gas into fuel.
Carbon Dioxide is considered one of the primary "greenhouse gases" caused by human activity which contributes to climate change. CCUS therefore is often highlighted as a method of curbing this climate change and important in the development of a low-carbon society.
Ashurst will also be tasked with providing advisory and drafting support to legal structures to establish the CCUS business models, and supporting legal issues associated with commercial engagement in CCUS projects.
The mandate is not Ashurst's first from the government so far this year. In April, the firm advised Her Majesty's Treasury on a new fund to provide financing to start-ups and scale-ups affected by the coronavirus pandemic.
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