The UK’s 2050 net zero goal is now enshrined in law. But despite the government’s recently-published 10 Point Plan, there are not yet clear guidelines for businesses on the part they will be expected to play. We put some frequently-asked questions to experienced energy professional Giulia Usai about how businesses can prepare – and the changes she’s seen in sustainability over the past decade.
No-one could dispute it’s been quite a year. But while the Covid-19 pandemic has had – and continues to have – a significant impact on the global economy and commodity markets of every type, it’s not the only driver to watch as we head into winter.
So what else do you need to pay attention to?
Earlier this year, the government announced plans to ‘Build Back Better’ from the Covid-19 pandemic, announcing a number of new initiatives to support a green recovery. But what can businesses expect?
In this latest edition of The Future Of Business Energy podcast, we are talking policy - specifically the Energy White Paper, which is expected later this Autumn. The Government also recently announced it will publish a full Net Zero Strategy in the run up to COP26 next November, as well as a number of additional policies, including a hydrogen strategy.
Cutting the UK’s emissions to net zero by 2050 is going to require big changes. And potentially big investment. While research we recently conducted found businesses are optimistic about embracing these changes, there is understandably concern about how the transition will be funded.
For a term that’s a relative newcomer to our everyday business language, net zero has gained a lot of traction in a short time.
A Google search, for example, brings up 1.47 billion results. And businesses of all sizes are feeling under pressure to have an official stance regarding their commitment to net zero.
Certainly, we hear from customers everyday asking for help with defining or delivering a net zero strategy. But what do businesses really think?
In November 2019, the UK Treasury announced it would conduct a Net Zero Review to assess how the UK could make the most of the economic opportunities the green transition presents. Published following the UK legislating to achieve net-zero carbon emissions by 2050, this Review, alongside the much-anticipated Energy White Paper, is designed to provide a clear roadmap on how the UK would achieve and fund its ambitious low-carbon transition.
As businesses across the UK – and indeed the world – focus on getting back on track, there’s a growing impetus to embed greater sustainability into the recovery.