Conservative MP Chris Skidmore has said if the UK government delays climate action it would risk damaging the country’s economic prospects, in a significant review of the government’s net zero plans.
The report, led by Skidmore, says the government’s climate policies need to be more consistent and ambitious and the UK is “falling behind” on some targets and needs a “new approach”. It also called for 25 sustainability actions, called the ‘25 by 2025’ within the next two years, which the review believes can provide an “immediate signal of the Government’s intent to deliver on net zero”, but also to remove the barriers that are preventing business and industry going further, faster.
Skidmore was commissioned in September by former prime minister Liz Truss to review the government’s delivery of net zero after a High Court ruling stated that the existing strategy, published in late 2021, was unlawful.
The goal was to ensure that the UK’s transition to net zero was “pro-growth and pro-business”. The final report, released Friday (13 January) draws on responses from 1,800 businesses and climate experts, making it one of the largest engagement exercises on net zero in the UK.
Recommendations for a successful transition include 10 ‘priority missions’ to harness public and private action out to 2035. These cover the country’s energy infrastructure, such as the expansion of solar, onshore wind, and nuclear, along with improving transparency and engagement with consumers and businesses regarding the opportunities available to them.
Currently, the UK has set a target of achieving net zero carbon emissions by 2050, as part of the global effort to avert the worst effects of climate change. Skidmore previously signed the 2050 emissions target into law in 2019 when he was an energy minister.
What does the report mean for businesses?
Calling net zero “the growth opportunity of the 21st century”, Skidmore said the UK “must move quickly” and decisively to reap the economic benefits of achieving the target, which it estimates to be worth more than £1 trillion in the period 2021 to 2030.
The report contains recommendations for how the government can support businesses, including a review of green investment incentives via the tax system and capital allowances and providing businesses with certainty and incentives to invest in green technologies.
Furthermore, the growing green skill gap is addressed, with the report recommending driving forward delivery of the Green Jobs Taskforce recommendations and the commitments from the Net Zero Strategy, reporting regularly on progress starting by mid-2023.
“We have heard from businesses that economic opportunities are being missed today because of weaknesses in the UK’s investment environment – whether that be skills shortages or inconsistent policy commitment,” continued Skidmore.
“Moving quickly must include spending money. We know that investing in net zero today will be cheaper than delaying, as well as increasing the economic and climate benefits.”
He added: “The review recognises we have fallen behind, but it sets out how we can be world-leading in these areas once again. We need to remove the barriers that are in place at the moment.”
You can read the full Net Zero Strategy report here.
