business
CBI Responds To Committee For Climate Change UK Net Zero Annual Report
Image by Gerd Altmann from Pixabay
Responding to the Committee For Climate Change UK Net Zero Annual ReporTom Thackray, CBI Decarbonisation Director, said:
“As we hit halfway to COP27 and three years on from the UK setting its net zero target, delivery must now be the Government’s watchword – both in the short and long-term.
“Weathering the cost-of-living crisis requires urgent action on energy efficiency to help bring down household bills. Delivering an affordable, resilient and net zero energy network would also help put pounds back in people’s pockets and propel the UK’s net zero journey forward.
“The Government has put the UK on the right path to net zero, but they cannot achieve it alone – business action is essential too. There are huge economic opportunities tied up with the UK’s green transition and businesses are eager to ramp up low-carbon investment.
“To maintain companies’ confidence to invest, business models must be brought forward for critical green technologies, alongside stripping bureaucracy from the planning system and new energy market regulations brought forward urgently.”
The CBI’s five recommendations to Government that can help business back green growth include:
Legislating for the fourth ECO scheme before summer recess and commit £1bn annual funding for energy efficiency retrofits and create a new ECO+ scheme.
Committing to the deployment of at least two more Carbon Capture clusters by 2030.
Setting out the Contracts for Difference model for Hydrogen, Sustainable Aviation Fuels (SAF), and other renewables.
Publish an accelerated planning and consenting regime for offshore wind projects to cut approval times from four years to one.
Broaden Ofgem’s duties to enable anticipatory investment in the grid to accelerate deployment of renewables.