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Clean Steel Fund

Question for Department for Business, Energy and Industrial Strategy

UIN 18582, tabled on 18 June 2021

To ask the Secretary of State for Business, Energy and Industrial Strategy, how his Department is planning to allocate the Clean Steel Fund; and when that allocation will be announced.

Answered on

28 June 2021

The Department announced the Clean Steel Fund (CSF) in 2019 and it is currently in development. This policy will take time to design in order to be delivered effectively.

Based on previous evidence, complex decarbonisation projects have long lead-in times and take time to set up. Due to this and other factors, the steel sector indicated in response to the 2019 Call for Evidence that their preference is for the CSF to be launched in 2023. Other schemes are available to support the sector and are live now, including the Industrial Energy Transformation Fund.