Net Zero Target: The Green Economy reacts

‘UK business stands squarely behind the government’s commitment to achieve net zero emissions by 2050’

The government will tomorrow lay a statutory instrument before Parliament that will amend the Climate Change Act and introduce a legally-binding net zero emission target for 2050.

The move makes the UK the first G7 economy to adopt a net zero target and puts the country at the forefront of a global trend that has seen a host of governments around the world ratchet up their climate goals in recent months.

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It paves the way for the UK to strengthen its medium-term emissions targets and introduce a raft of new policies to engineer a step change in the pace of decarbonisation. The move is designed to send the clearest signal yet to businesses and investors that deep decarbonisation over the next three decades is now non-negotiable.

However, it also raises a host of questions about how to fully eradicate greenhouse gas emissions across the economy, especially in sectors such as aviation, heating, shipping, agriculture, and heavy industry where the pathways towards net zero emissions remain unclear.

The government said it was “imperative” that other major economies follow suit and confirmed it would conduct a further assessment within five years to confirm that other countries are taking similarly ambitious action so as to ensure domestic industries do not face unfair competition.

In addition, the government announced the launch of a Youth Steering Group to help shape a net zero strategy that responds to calls for bolder climate action from younger people.

Politicians and business

Keep reading this article on Business Green - Incisive Business Media (IP).

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