Monday 13 March 2023

A Welsh £30bn net zero plan

A £30 billion plan has been set out by some of Wales’ largest greenhouse gas emitters to slash their emissions to zero.

The South Wales Industrial Cluster (SWIC) involves close to 40 different firms, which have all committed to hitting net zero by 2040.

These include oil refineries, chemical plants and steelworks.

Collectively, the businesses are hopeful their own targets will contribute to Wales lowering its overall emissions by 40%.

With large heavy industry, South Wales is the second-largest polluting region in the UK.

Conducting a report after two years of research, SWIC claims it will require £30 billion to decarbonise the industry to the level desired.

The integration of renewable electricity, hydrogen and carbon capture was deemed critical for Welsh net zero targets.

David TC Davies, Welsh Secretary, said: “[The] UK government is pleased to fund projects like SWIC that bring together industry to develop pathways to decarbonisation.

“We want to make sure the economy of Wales is fit for the future, providing skilled jobs and driving prosperity alongside achieving our net zero targets. We look forward to working with partners and stakeholders to help us achieve these goals.”