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The UK’s Ten Point Plan for a Green Industrial Revolution

June 25, 2021

How the UK aims to achieve net zero emissions by 2050

 

 

 

 

 

 

 

 

 

 

Ambitious plans for the future of green technology and finance within the United Kingdom

The Prime Minister, Boris Johnson, articulated that a fundamental aim of the current government is turn the UK into the world’s number one centre for green technology and finance. The UK has taken an historic lead, of sorts, in trying to achieve net zero by 2050: The UK was the first country to make achieving net zero by 2050 a legal obligation, and the UK also played a significant role in helping to secure the Paris Agreement.

The Ten Point Plan, proposed by the government towards tackling net zero emissions, sets out the key targets and goals that must be achieved in order for the country to effectively reach the target by 2050. The plan is expected to use £12 billion of government investment in conjunction with potentially 3 times as much from the private sector. The Secretary of State for Business, Energy and Industrial Strategy actually puts this figure (private investment) at an estimated £42 billion by 2030.

The Ten Point Plan

Point 1: Advancing offshore wind

Point 2: Driving the growth of low carbon hydrogen

Point 3: Delivering new and advanced nuclear power

Point 4: Accelerating the shift to zero emission vehicles

Point 5: Green public transport, cycling and walking

Point 6: ‘Jet Zero’ and green ships

Point 7: Greener Buildings

Point 8: Investing in carbon capture, usage and storage

Point 9: Protecting our natural environment

Point 10: Green finance and innovation

Does the plan go far enough?

Critics argue that the focus on investing in new nuclear power is entirely misguided. Friends of the Earth, for example, state that the argument about needing nuclear power for when the wind isn’t blowing “doesn’t hold water now that we options such as hydrogen and batteries.” However, Friends of the Earth do concede that in some areas the government has delivered, namely the decision to ban diesel and petrol cars by 2030 and the £1 billion investment in insulating homes and buildings.

Business Green argue that, although there are successes to speak of, in comparison to Germany’s earmarked €7bn for hydrogen projects, the UK’s £500m is pale in comparison. They also point out the £1bn allocated for CCS is the same as what was promised a decade ago, and the £20m for green maritime technology is merely a drop in the ocean.

Ultimately, however, Greenpeace stated that the measures marked a significant step forward for tackling the climate emergency, “This landmark announcement signals the end of the road for polluting cards and vans a historic turning point on climate action.”

 

 

 

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