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CBI yesterday responded to Government ‘Green Day’ announcements.

On the overall package, Syma Cullasy-Aldridge, CBI Chief Campaigns Director, yesterday said:

“Businesses across the country are raring to go on delivering green growth and making the most of the UK’s potential as a net zero superpower. The package of measures announced by the Government represents a gear shift to boost energy security, reduce household bills and re-establish the UK’s credentials as a leader in green technologies.

“In streamlining red tape, tackling the cumbersome planning process and identifying ways to catalyse investment, the Government is laying solid groundwork that will allow the green economy to take off. Backing for new technologies, like hydrogen and nuclear, where the UK has the capacity to win big is hugely welcome.

“With the strategy now set, the test is for all parts of government and business to switch to delivery mode. We need to move at pace to keep up with fierce international competition for green investment.”

Responding to specific announcements, Tom Thackray, CBI Director of Decarbonisation, yesterday said:

On energy security and generation:

“Businesses across the country will welcome the confirmation of targets for clean power generation and warm signals about the imminent publication of the Government’s Energy Bill. These moves will bring much needed certainty to the market and help energy companies to invest with confidence going forward.

“On carbon capture and storage, the selection of successful projects moves the country on from ambition to delivery. While that undoubtedly represents significant progress, there are missed opportunities which urgently need to be addressed in order to hit the Government’s own carbon capture targets and capitalise on this massive economic opportunity for the UK.

“This is particularly true for the Humber – a strategically important cluster as the UK’s most carbon intensive region. CCUS is an essential part of its journey to net zero and will help underpin tens of thousands of green jobs in the future. Government should work with businesses in the region to provide clarity about how these projects will advance.

“Those bids that were unsuccessful this time need a quick and clear route to future approval, otherwise significant effort and investment could be wasted and emissions from industrial clusters will remain higher for longer.”

Speeding up the planning process, greening the economy and attracting finance:

“The publication of National Policy Statements is a major step forward for those firms keen to invest in the green economy but disincentivised by the UK’s cumbersome planning processes. Further clarity on timelines and regulatory criteria will give firms greater confidence to invest and help ensure spades reach the ground far quicker in the delivery of major projects. The announcement of an action plan to speed up grid connectivity is also welcome.

“The UK has a unique position as a world-leader in financial services and the updated Green Finance Strategy is focused on maintaining this position. Moves to develop the UK green taxonomy, lead standards for corporate reporting and ensure regulations unlock capital for green infrastructure are all backed by industry.”

Reducing demand by increasing household and business energy efficiency:

“For homeowners, the restatement of the Government’s commitment to pressing ahead with energy efficiency measures is welcome. The extension of the Boiler Upgrade Scheme will help reduce the number of people living with inefficient heating systems as well as providing confidence for suppliers.

“Businesses will be pleased to see the extension of the Industrial Energy Transformation Fund as they navigate the difficult and costly challenge of making commercial buildings more energy efficient. The launch of a new energy advice service for SMEs also represents a positive step, while the piloting of a new audit and grant scheme should provide important learnings moving forward – with the potential to scale-up further.”