The UK Prime Minister has announced a ten point plan for a “green industrial revolution” to drive the UK to net zero and generate 250,000 “green jobs”. The ten point plan complements the Government’s push to stimulate economic growth post-Covid, particularly in industrial regions of the UK.
The key pillars of the plan are:
- Offshore wind: 40GW of offshore wind by 2030
- Hydrogen: 5GW of low carbon hydrogen by 2030 for industry, transport, power and homes, including a town heated entirely by hydrogen by 2030
- Nuclear: advancing nuclear power
- EVs: accelerating the transition to EVs
- Zero emissions public transport
- “Jet zero”: zero emissions planes and ships
- Buildings: making buildings greener
- CCS: removal of 10MT of CO2 by 2030
- Nature: restoring the natural environment
- Innovation and finance: the UK as a centre of technological innovation and the City of London as the global centre of green finance
Specifically, the plan contemplates up to £500m of funding for hydrogen, including funding for a "Hydrogen Neighbourhood" in 2023 and a "Hydrogen Village" by 2025 (with £240m going to new hydrogen production facilities).
EVs are also a key pillar of the plan: the Prime Minister announced an intention to end the sale of new petrol and diesel cars and vans by 2030 (with hybrid vehicles to be phased out in 2035). Funding of £1.3bn will be allocated to the rollout of charging infrastructure in England. More than £500m has been earmarked for nuclear energy.
This plan signifies a major step forward on the UK’s path to net zero.
This marks the beginning of the UK’s path to net zero, with further plans to reduce emissions whilst creating jobs to follow over the next year in the run up to the international COP26 climate summit in Glasgow next year.