UK Clean Growth Strategy; is a low carbon UK now inevitable?
Just days ago, the Government published its Clean Growth Strategy, in which it promises to lead the world in cost effective clean growth.
Entitled ‘The Clean Growth Strategy: Leading the way to a low carbon future,’ can the document really set out a blueprint to an energy efficient, low carbon UK?
Clean Growth; the details
The overarching driver behind the Strategy is to maximise the social and economic benefits for the UK from the low carbon transition.
The document promises to create low carbon economic opportunities, through the creation of new technologies and new businesses, building jobs and prosperity across the UK along with ambitious national targets to tackle climate change.
On the numbers; over £2.5 billion will be invested in low carbon innovation from 2015 to 2021. This funding covers low carbon energy, transport, agriculture and waste.
This includes up to £505 million from the Department for Business, Energy and Industrial Strategy’s Energy Innovation Programme, which aims to accelerate the commercialisation of innovative clean energy technologies and processes.
It’s estimated that in total, all this cash can help the low carbon economy grow 11% per year between 2015 and 2030; faster than the rest of the economy.
There will be up to £10 million for innovations that provide low carbon heat in domestic and commercial buildings, plus £10 million for innovations that improve the energy efficiency of existing buildings, and an extra £14 million for the Energy Entrepreneurs Fund.
Carbon Capture and Utilisation gets £20 million, while another £20 million will demonstrate the viability of switching to low carbon fuels for industry. Another £20 million will support clean technology early stage funding.
An as yet uncosted package of measures will help businesses improve their energy productivity by at least 20% by 2030.
There is more. The Government will phase out the use of unabated coal to produce electricity by 2025, and invest around £841 million of public funds in innovation in low carbon transport technology and fuels.
It will also spend £1 billion supporting the takeup of ultra low emission vehicles, including helping consumers to overcome the upfront cost of an electric car. It will also work towards the ambition for zero avoidable waste by 2050.
Clean Growth; the verdict
PwC, generally a fair and impartial voice on UK sustainability, said that presently the UK leads the G20 on clean growth and is decoupling emissions from economic growth significantly faster than its peers.
“The Clean Growth Strategy should continue the UK’s transition to a low carbon economy,” Jonathan Grant, PwC sustainability director and Low Carbon Economy Index author, said.
“There’s no denying that the Government’s new Strategy offers some compelling drivers, both financial and strategic, to further deliver the low carbon UK we already know represents our future,” comments Kevin Cox, Managing Director, Energys.
“At Energys we are particularly delighted to see promises of £10 million for buildings energy efficiency; we are primed and ready to help put this money to work in the best possible way.”
We hope you enjoyed this article? See more of energy policy articles here. Please drop us a line if you’d like to chat about any of the issues and themes covered or to find out more about our energy saving technologies .
The Energys Group regulatory round up; what’s key in the world of environmental legislation?
The Energys Group March 2018 horizon scan; top insights for futureproofing low carbon business
The Energys February 2018 horizon scan; top insights and analysis on low carbon business
Have a question?+44(0)1403 786212