Ten Point Plan for a Green Industrial Revolution – Net Zero 2050
This article is part of the WUN industry knowledge series & was written by Catalina Guillen-Rozo , WUN Advocate & the Regulatory Analyst, Zenobē Energy
The UK was the first major economy to embrace a legal obligation to achieve net zero carbon emissions by 2050. The ten point plan sets out the approach government will take to build back better, support green jobs, and accelerate our path to net zero.
The plan focuses on increasing ambition in the following areas
- advancing offshore wind
- driving the growth of low carbon hydrogen
- delivering new and advanced nuclear power
- accelerating the shift to zero emission vehicles
- green public transport, cycling and walking
- ‘jet zero’ and green ships
- greener buildings
- investing in carbon capture, usage and storage
- protecting our natural environment
- green finance and innovation
The ten-point plan will mobilise £12 billion of government investment, and potentially 3 times as much from the private sector, to create and support up to 250,000 green jobs.
Point 1: Advancing offshore wind
Government support to unleash the potential of this industry has seen the cost of offshore wind fall by two thirds in the last five years. By 2030, the UK aims to produce 40GW of offshore wind, including 1GW of innovative floating offshore wind.
Point 2: Driving the growth of low carbon hydrogen
The UK is aiming for 5GW of low carbon hydrogen production capacity by 2030. This will be supported by a range of measures, including a £240 million Net Zero Hydrogen Fund.
Point 3: Delivering new and advanced nuclear power
Government support could unlock significant private investment, up to £300 million for development of small modular reactors alone. Subject to value-for-money and future spending rounds, a £385 million fund will be announced in an Advanced Nuclear Fund.
Point 4: Accelerating the shift to zero emission vehicles
From 2030 the UK Government will end the sale of new petrol and diesel cars and vans. The UK will invest £1.3 billion to accelerate the roll out of charging infrastructure, targeting support on rapid charge points on motorways and major roads.
Point 5: Green public transport, cycling and walking
The UK Government will invest tens of billions of pounds in enhancements and renewals of the rail network, £4.2 billion in city public transport and £5 billion on buses, cycling and walking, as announced by the Prime Minister in February.
Point 6: Jet zero and green ships
Government’s plan to position the UK at the forefront of aviation and maritime technology to push forward low carbon travel and build on UK strengths includes a £15 million competition to support the production of Sustainable Aviation Fuels (SAF) in the UK, building on the success of the Future, Fuels for Freight and Flight Competition.
Point 7: Greener buildings
Making our buildings more energy efficient and moving away from fossil fuel boilers will help make people’s homes warm and comfortable, whilst keeping bills low. The ambition is 600,000 heat pump installations per year by 2028 with open the choice as to whether we ultimately pursue hydrogen heating, an electrified heating system, or a mixture of both.
Point 8: Investing in carbon capture, usage and storage
The UK Government announced an investment up to £1 billion to support the establishment of CCUS in 4 industrial clusters, creating ‘SuperPlaces’ in areas such as the North East, the Humber, North West, Scotland and Wales.
Point 9: Protecting our natural environment
Immediate creation of more green jobs with a £40 million second round of the Green Recovery Challenge Fund. This fund will help create and retain thousands of jobs to work on nature conservation and restoration projects across England helping to improve biodiversity and tackle climate change.
Point 10: Green finance and innovation
Launch of the £1 billion Net Zero Innovation Portfolio. The portfolio will focus on 10 priority areas that correspond with this Ten Point Plan, including: floating offshore wind, nuclear advanced modular reactors, energy storage and flexibility, bioenergy, hydrogen, homes, direct air capture and advanced CCUS, industrial fuel switching and disruptive technologies such as artificial intelligence for energy.
To learn more why not listen to the WUN podcast on Energy Policy