Chris Skidmore MP, the politician in charge of implementing the government’s four-month net zero review, is urging Liz Truss to avoid fracking investment and back renewables. Skidmore is in charge of submitting a report to Truss outlining recommendations to achieve the UK’s targets. The UK’s net zero commitment, signed into law in 2020, commits to reducing emissions by 68 per cent and hitting net zero by 2050.
Ahead of COP27, all involved nations must update their Nationally Determined Contribution (NDC) outlining how they will contribute to the Paris Agreement. The UK is no exception, but while their NDC does reaffirm current commitments to net zero, no new announcements are featured.
Energy security is now a primary concern for the vast majority of nations, and this has had a knock-on effect on net zero progressions, such as the roll-out of renewable technology. However, energy security must be balanced with climate security. Skidmore’s review focusses on the UK’s fight against climate change while maximising economic growth; energy security and affordability is of course central to this.
The NDC review will analyse the low carbon technology available in today’s market able to achieve net zero goals, ensuring sufficient investment is made to boost growth and consolidate the green transition.
BloombergNEF calculated that £24bn of investment was made in industries and businesses related to the energy transition last year alone. Furthermore, statistics highlight a current 400,000 jobs in low carbon businesses, with energy security and net zero strategies aiming to leverage an additional £100bn of private investment and support an additional 480,000 British jobs by 2030. Skidmore’s report highlights renewables as a key source of investment, green skills and energy security.
Skidmore, chair of the net zero review, said: “Everyone in the country has a stake in the UK’s transition to net zero… The decisions and actions we take today will impact consumers, employees and businesses alike, in cities, towns, and rural communities all over the country.”
“I want to ensure that net zero isn’t jus viewed as the right thing to do for our environment, but becomes an essential driver of economic growth, and a win-win for Britain and the world.”
The key takeaways from the latest NDC report are that the UK is not turning its back on net zero, and pressure for Truss’ new government to ditch fracking in favour of renewables and alternative energy security methods remains prevalent.