Aldersgate Group reaction: announcements on net zero by Rt Hon Kemi Badenoch MP, the Leader of the Opposition

Reacting to today’s announcements on net zero by Rt Hon Kemi Badenoch MP, the Leader of the Opposition, Rachel Solomon Williams, Executive Director at the Aldersgate Group, said: “The UK has a proud history of cross-party consensus on both the importance of fulfilling our climate goals, and on the central role that this can play in driving economic growth across the country. It is crucial that this is maintained.

“Our discussions with businesses show that markets are shifting towards decarbonisation because that is where significant growth opportunities lie for the UK. Research from the CBI and ECIU highlighted that the net zero economy generates £83bn in GVA for the UK, and has grown 10% in the past year, with higher productivity than other areas of the economy. By lowering our reliance on fossil fuels, we can bring down the cost of power and improve energy security at a time of significant international uncertainty.

“Net zero can be achieved, and it can be done in a way that benefits the public and boosts the economy; this requires certainty, decisive policy measures, and consistent ambition in order to crowd in private investment. While further progress is needed, now is not the time to back away from the challenge. The opportunities on offer with the right approach, and the risks associated with inaction, are significant.”