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CBI’s response given recently (19 October 2021) to the Government's Net Zero Strategy & Review.

Matthew Fell, CBI Chief Policy Director, recently said:

“The Net Zero Strategy and Review fills in some of the blanks on how we realise the UK’s decarbonisation ambitions. What’s clear is that Government plans can only be achieved alongside swift action from businesses. Undoubtedly many of these initiatives will help firms better understand how to unleash more innovation and investment – and put us at the forefront of global climate action ahead of COP26.

“Establishing a grant scheme for heat pumps will help deliver the ambitious roll out we need in the years ahead and bring down the cost of the technology. Extra funding for EV charge points and manufacturing of vehicle batteries will accelerate emissions reductions and boost green growth and jobs in our economy. Cash for innovation projects will help make the most of our world leading science and technology advances.

“But there are still some pieces of puzzle missing. Strong consumer incentives to make homes more energy efficient and delivering business models to make carbon capture and hydrogen projects more investable need to be brought forward urgently. To truly transform the UK economy based on sustainable and green growth, we need to push further and faster and make key decisions on how to finance the transition to net zero. An honest conversation needs to happen here in the UK about how we pay to go green.”