the past 3 years, in the forms of grants, long-term revenue support and guarantees. Over the past 2 years, more than USD 15 billion in commercial debt has flowed across a small number of CCUS-related transactions, predominantly structured as non-recourse project finance. The United Kingdom accounts for a significant share of this total, with a single large-scale financing deal in 2024 exceeding flowing into CCUS projects, as the first large-scale project finance CCUS initiative, Despite these positive signals, debt financing remains highly concentrated in a few jurisdictions and sectors, and the current pipeline of deals is still too limited to