Climate plan captures clean energy benefits and boosts investment

Working families and businesses will benefit from clean energy and climate action, as the government embraces the opportunities of the clean energy economy.

The newly announced Carbon Budget and Growth Delivery Plan sets out how the UK will continue to reduce emissions in a way that lowers bills and secures good jobs, in line with the landmark 2008 Climate Change Act. This framework has been supported by Britain’s leading businesses, trade unions, and civil society organisations because it creates a stable environment for investment in clean energy. Since the UK introduced the Act, it has been emulated around the world with 60 other countries now adopting their own climate legislation. 

The framework created by the Act has helped to secure billions in investment, and this plan sets out how the British public and businesses stand to benefit in the years ahead with economic growth, cleaner air and protecting the nation’s natural environment for current and future generations. The UK is a global leader in decarbonisation and securing investment in clean energy industries, with its net zero sectors growing three times faster than the economy overall according to the Confederation of British Industry.

The UK has reduced emissions by over 50% while growing the economy by over 80% since 1990. 

This is alongside over £50 billion of private investment announced into clean energy industries since last July, with the clean energy workforce set to double to more than 800,000 people by the end of the decade. 

The government is pursuing policies which deliver tangible improvements to the everyday lives of working people, utilising clean energy technologies to cut bills and deliver warmer homes.

The core of the government’s plans are:

·       Backing clean energy to deliver energy security and lower bills by investing in renewable and nuclear energy to get the UK off the rollercoaster of international fossil fuel prices and onto clean, homegrown power it controls.

·       Projecting 400,000 extra jobs by 2030.

·       Warmer homes: The government is upgrading homes for 5 million families through its Warm Homes Plan.

·       Cleaner air: The plan will contribute to making the air cleaner. Zero Emissions Vehicles are now cheaper to run, saving drivers up to £1,500 a year in running costs compared to a petrol or diesel car.

Climate Minister Katie White

Minister for Climate, Katie White, said: 

“Our world leading Carbon Budget and Growth Delivery Plan supports good jobs now and in the future, while continuing to attract billions of pounds of investment into Britain. 

This plan reaffirms that clean energy is the economic opportunity of the 21st century. 

As we meet our climate targets we will deliver lower bills, warmer homes, cleaner air and good jobs in the clean energy industries of the future for British people”.

Shirine Khoury-Haq, The Co-operative Group Chief Executive and co-chair of the Net Zero Council said: 

“Clear targets, policy stability and certainty are all key for businesses looking to plan and invest with confidence, and ultimately it’s businesses which drive growth and can unlock the creation of good, green jobs.

Through the Net Zero Council, we’ll continue to bring together civic society, the unions, businesses and investors to work closely with the UK Government on this vital agenda, including through the development of Sector Transition Plans. 

At Co-op we’ll continue to take action to make our operations and the products and services we sell more sustainable. It is one of our member-owners’ highest priorities and it is the right thing to do”.

Matthew Evans, COO and Director of Markets at techUK, said:

“This new plan shows climate action is good for growth and great for businesses. With digital solutions integral to delivering progress, jobs, and with the potential to cut global emissions by 20%, techUK is looking forward to working with the government ”.

In a separate development Ofgem has proposed writing off up to £500 million of consumer debt to energy suppliers in 2026. Under the existing price cap, an annual charge of £52 is levied on household energy bills as a debt allowance, designed to cover unpaid energy debts that are ultimately written off.  

The regulator confirmed that a consultation on the first phase of its debt relief scheme is set to be published shortly.