BEAMA today welcomes the Public Accounts Committee report on Net Zero which makes it clear that the UK Government has not considered the long term investment needed to implement net zero technology by 2050. A lack of long term support and clarity, along with a significant shortfall in investment by as much as 50-60%, is leading to a state of consumers and businesses not being ready for the transition.
We have long contended that the pathway to Net Zero can only be implemented if the right Government actions are taken to facilitate the significant industry investment required. We have the technologies required for Net Zero today, but infrastructure investment and co-ordination is stalling progress and this can only be resolved through moving Net Zero out of short term politics and into long term strategic infrastructure planning and investment.
Our Net Zero campaign, launching on 22nd November, centres on a very clear message to Government.
“The supply chain needed to deliver Net Zero requires significant capacity building from infrastructure enablers through to skills development and consumer education. There are many sectors which need to collaborate to enable the affordable and timely electrification of heat and transport. The level of private investment needed in the UK to deliver this is not business as usual, and the rate of infrastructure deployment for the whole energy system is unprecedented requiring a radical step change in strategy from UK Government. Business can make Net Zero happen, but some ceilings can only be smashed by Government facilitating action to unlock the market opportunity and encourage UK investment.” Yselkla Farmer, BEAMA CEO