CBI responds to Leader of The Opposition's speech on Net Zero

Responding to the speech by Rt. Hon. Kemi Badenoch MP, Leader of HM Opposition, Rain Newton-Smith CEO, CBI says:

“Now is not the time to step back from the opportunities of the green economy. Cross-party support for net zero has underpinned international investors’ confidence to choose the UK for investment in the energy transition. Last year, this resulted in the net zero economy growing by 10% and adding £83 billion to national income. 

“Achieving net zero by 2050 provides opportunities for green growth – and it can only be delivered by creating the conditions to sustain high levels of private investment. This includes governments committing to the long-term policy certainty established by UK carbon budgets. 

“It also includes tackling electricity prices as firms in the UK pay more to power their business than anywhere in the world. Proportionately rebalancing costs as part of wider reforms, increasing renewable contract-lengths and extending reliefs to support industrial transition are critical at the forthcoming spending review to forge a path to greener, secure and more affordable energy.”