Thursday 9 November 2023

‘UK faces challenges in achieving net zero’

The UK has made substantial progress toward achieving its net zero emissions goal but still faces significant challenges in sectors like transport, buildings and industry.

That's according to a new report by KPMG, which suggests that while the UK has nearly halved greenhouse gas emissions since 1990, areas like transport, buildings, and industry remain difficult to decarbonise.

These three sectors collectively contributed 60% of all greenhouse gas emissions in 2022, yet they have made less progress compared to the power sector.

According to the report, the UK's ambition to install 600,000 heat pumps annually by 2028 is currently off track, with installations significantly lagging behind the target.

Similarly, while electric vehicle adoption is on the rise, sectors like aviation and shipping are progressing much more slowly.

The report suggests that competition in green investment is intensifying, with other nations catching up on green technology and policies.

On a global scale, despite some successes in low carbon energy production in countries like the US, China, Brazil, Canada, and the EU, progress is hindered by the perceived cost and local impacts of decarbonisation efforts.

Some markets and sectors are experiencing conflicts between renewable projects and local ecosystems, resulting in opposition to measures that could affect people's livelihoods.

In fast-growing economies like India, surging energy demand is leading to investments in both low carbon and fossil fuel generation, potentially delaying their net zero targets.