Business Energy Broker
The UK has published a net-zero strategy to deliver on its commitments by 2050.
Following the ambitious announcement on October 7th to decarbonise the UK electricity system by 2035, the UK has published a strategy to deliver on its Net-Zero commitments. The official documents were published on October 19th and set a path for the transition to a net-zero future.
The strategy builds on the Prime Minister’s Ten Point Plan for a Green Industrial Revolution by setting out an economy-wide support plan for businesses and consumers. The UK will unlock the potential of £90 billion to be leveraged in private investments by 2030 that will also provide economic opportunities for up to 440,000 skilled jobs within the green industry.
With these commitments, the UK aims to assure and gain certainty from businesses to support the UK in their path to the net-zero future. Having the latest developed clean energy and technologies will strengthen energy security, ensure we can meet demand and reduce our reliance on fossil fuels but requires the support of private investment and businesses combined.
The investments in the UK strategy include:
With the announcement of these investments, the UK has invested £26 billion and secured 56,000 jobs in clean energy and technologies since the Ten Point Plan.
The UK was the first major economy to commit to achieving net-zero by law, has been identified by KPMG as one of the most net-zero ready counties and has decarbonised faster than other G7 countries. These outline the UK’s efforts to make a large contribution to global climate change and will host the COP26 Climate Summit in Glasgow in November 2021.
Prime Minister, Boris Johnson, said:
“The UK’s path to ending our contribution to climate change will be paved with well-paid jobs, billions in investment and thriving green industries – powering our green industrial revolution across the country.
With the major climate summit COP26 just around the corner, our strategy sets the example for other countries to build back greener too as we lead the charge towards global net zero.”