Prime Minister Boris Johnson has promised to mobilise £12 billion to put the UK on a path to achieve carbon neutrality by 2050, ahead of hosting the Cop26 climate summit next year.
In a long-awaited 10-point plan for a “green industrial revolution” released on Tuesday, Johnson set out his blueprint, showing he will mobilise £12 billion of government investment to create and support up to 250,000 highly skilled green jobs in the UK, and spur over three times as much private sector investment by 2030.
More than £1.2 billion of new investments have been earmarked for nuclear, hydrogen and carbon capture technologies; Johnson committed to end the sale of new petrol and diesel cars by 2030, which is a decade earlier than previously targeted.
Prime Minister Boris Johnson said: “Although this year has taken a very different path to the one we expected, I haven’t lost sight of our ambitious plans to level up across the country. My Ten Point Plan will create, support and protect hundreds of thousands of green jobs, whilst making strides towards net zero by 2050.”
The 10-point plan comprises:
- Offshore wind: Producing enough offshore wind to power every home, quadrupling how much we produce to 40GW by 2030.
- Hydrogen: Working with industry aiming to generate 5GW of low carbon hydrogen production capacity by 2030 for industry, transport, power and homes.
- Nuclear: Advancing nuclear as a clean energy source, across large scale nuclear and developing the next generation of small and advanced reactors, which could support 10,000 jobs.
- Electric vehicles: Backing our world-leading car manufacturing bases to accelerate the transition to electric vehicles and transforming our national infrastructure to better support electric vehicles.
- Public transport, cycling and walking: Making cycling and walking more attractive ways to travel and investing in zero-emission public transport of the future.
- Jet Zero and greener maritime: Supporting difficult-to-decarbonise industries to become greener through research projects for zero-emission planes and ships.
- Homes and public buildings: Making our homes, schools and hospitals greener, warmer and more energy efficient, whilst creating 50,000 jobs by 2030, and a target to install 600,000 heat pumps every year by 2028.
- Carbon capture: Becoming a world-leader in technology to capture and store harmful emissions away from the atmosphere, with a target to remove 10MT of carbon dioxide by 2030.
- Nature: Protecting and restoring our natural environment, planting 30,000 hectares of trees every year, whilst creating and retaining thousands of jobs.
- Innovation and finance: Developing the cutting-edge technologies needed to reach these new energy ambitions and make the City of London the global centre of green finance.
Point Four In-Depth: Following extensive discussions with car manufacturers and sellers, the Prime Minister has confirmed that the UK will end the sale of new petrol and diesel cars and vans by 2030, ten years earlier than planned.
To support this acceleration, the Prime Minister has announced:
- £1.3 billion to accelerate the rollout of charge points for electric vehicles in homes, streets and on motorways across England, meaning that it is much easier and more convenient for people to charge their cars.
- £582 million in grants for people buying zero or ultra-low emission vehicles to make them cheaper to buy and incentivise more people to make the transition.
Point Seven In-Depth: The UK Government has issued £1 billion next year into making new and existing homes and public buildings more efficient by installing renewable energy heating through the use of heat pumps. As well as, extending the Green Homes Grant voucher scheme by a year, meaning that more people can be accepted by the scheme and allow all installations to be complete on time before the deadline.
Additionally, it has announced that funds will be given to make the public sector buildings greener and cutting bills for hospitals and schools, as part of the Public Sector Decarbonisation Scheme.
These new commitments backed by government funding send a clear signal to industries across the British economy to invest in the UK, which is why today the Prime Minister will host a virtual roundtable with green investors to set out his ambitious plan and incentivise further private sector investment.
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, which will be held in Glasgow next year.
At Hero Renewables we are a first-class provider and installer of renewable technologies, offering our award-winning service and products to aid the UK’s transition to a green future.
We are currently taking part in the government green home’s grant that was announced this summer. If you are thinking about installing a renewable heating system in your home, then give our team a call on 0808 222 0 111 to get your quote and to claim for the grant of up to £10,000.