Thursday 12 October 2017

UK Government unveils Clean Growth Strategy

The UK Government has set out its Clean Growth Strategy to boost national income and output whilst simultaneously cutting greenhouse gas emissions.

The plan aims to ensure an affordable energy supply for businesses and consumers, increase productivity, create jobs and help protect the climate and environment.

An investment of £2.5 billion will support low carbon innovation from 2015 to 2021, as part of the largest increase in public spending on science, research and innovation in more than three decades.

The spending will focus on low carbon energy, transport, agriculture and waste.

The government says its Green Finance Taskforce will leverage public and private investment, develop a set of sustainable finance standards and provide up to £20 million to support a new early stage investment fund for clean technologies.

It aims to support businesses across a range of industries improve their energy productivity by at least 20% by 2030 and build and extend heat networks across the country.

The UK will also spend £3.6 billion to upgrade around a million homes through the Energy Company Obligation (ECO) and extend the scheme until 2028.

It is hoped this will allow all fuel poor homes to be upgraded to Energy Performance Certificate (EPC) Band C by 2030.

The Clean Growth Strategy heralds the end of an era for conventional petrol and diesel vehicles and coal generation, which will be phased out by 2040 and 2025 respectively.

The government plans to spend £1 billion supporting the take-up of ultra low emission vehicles (ULEV) and around £900 million in smart, nuclear and renewable technologies to fill this gap.

It also says targeting a total carbon price in the power sector will give businesses greater clarity on the total price they must pay for each tonne of emissions.

Prime Minister Theresa May said: "This Government is determined to leave our natural environment in a better condition than we found it.

"Clean growth is not an option but a duty we owe to the next generation and economic growth has to go hand-in-hand with greater protection for our forests and beaches, clean air and places of outstanding natural beauty. "

Clean growth will be part of the discussions at Energy Live Expo on 2nd November at the QEII in London. There are limited free tickets for energy end users.