Published on January 13, 2023 by former energy minister Chris Skidmore, the review on the economics of UK’s net zero transition (Mission Zero: Independent Review of Net Zero) argued that whilst progress has been made, the UK has only scratched the surface of an economic opportunity could leverage £100bn of additional investment and support 480,000 British jobs by 2030. In our Jan 17-Feb7 poll, we asked whether you agree with this analysis.
Based on 1800 responses to a call for evidence and the findings of more than 50 round table sessions, the review represented one of the largest national engagement exercises on net zero and paints a broadly positive picture of the UK’s progress toward a zero-carbon economy.
In it, Skidmore - who signed the UK’s net zero pledge into law in 2019 whilst a minister at BEIS - hailed the push for net zero as an “historic” economic opportunity, arguing that whilst the UK has made huge domestic progress and played an important role helping to drive global transformation, it could do more to reap the benefits.
The review made 129 recommendations on how this could be achieved including making better use of infrastructure and delivering more energy efficient homes; introducing new incentives for investment in decarbonisation; reforming planning systems; and legislating that no new homes are built with a gas boiler from 2025. Making these adjustments could, the review argued, unlock a host of opportunities for UK businesses and help accelerate its progress to net zero.
The findings have been well-received by many across industry, including Prof Sir Jim McDonald, President of the Royal Academy of Engineering, who welcomed a renewed emphasis on the opportunities presented by net zero. “Transitioning to net zero is in fact an opportunity to capture benefits for everyone through the creation of new markets, industries, innovation and skills development,” he said.
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