BEAMA, led by our members, has set our commitment to deliver the net-zero by 2050 target. The success of this target is dependent on industry and businesses adapting to stable and effective regulation, ensuring the appropriate investment signals in the market.
As outlined in the Committee on Climate Change Net Zero report, the target is feasible because the technology is available and understood, but these can only be implemented with strong leadership from Government.
In this report we outline areas where we believe ambition is lacking and there is the need for urgent action – whether that’s regulation, policy, standards or market design and incentives.
Technology is a key enabler for our low carbon future, and there is great potential for the UK to be seen as a leader in innovation and new technology markets for smart flexible energy systems. As the first major economy in the world to set this target in law, we need to harness the opportunity for growth in the UK economy from this. UK leadership is a significant theme within the Committee on Climate Change recommendations, and we hope this theme will be continued to be applied to domestic industries. BEAMA sees huge potential for the industry and growth in trade opportunities stemming from the transition to net-zero, and in the lead up to COP26 we would like to start work now to gain momentum in the UK market for our transition to net-zero.
The current investment landscape for our sector is however wavering, at a time when we should be seeing a dramatic increase in the deployment of low carbon technologies. In this report we highlight the limitations today for inward investment and export, and how as industry and Government we can tackle this together, and de-risk the energy market for businesses in the UK looking to invest in green, low carbon technologies.
This is an ongoing campaign and we invite all interested stakeholders to engage with us on social media, or directly. For more information please email BEAMA Director of Policy and Marketing [email protected]
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Thank you to our report sponsors, to find out more information about the sponsoring companies please see below: