Driving green growth and the transition to net zero

Campaign — Net zero

Net zero cannot just be an ambition: it is a strategic necessity

At a time of global energy uncertainty, net zero cannot just be an ambition: it is a strategic necessity.  Delivering a low-carbon economy is essential for long-term, sustainable growth. Last year, our green economy grew 9% versus 1% for the rest of the economy.  But right now, the UK risks falling behind the global competition on green growth. The EU and US have overtaken us with huge stimulus packages, growing their market share and creating skilled jobs.  We need to accelerate the UK’s transition to net zero, with business at the forefront. 

The change we're calling for

In 2020 the UK was investing the biggest share of GDP of any country in energy transition. Since then we have dropped down the international league table. We may not be able to outspend the global competition, but we can outsmart them – with targeted public spending to catalyse the private capital that will make net zero by 2050 a reality. 

A Net Zero Investment Plan to crowd in private finance
A targeted green super-deduction for businesses investing to cut their carbon emissions
A strategic prioritisation process for grid connections

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“The UK has a strong history of fostering innovation, and there are some great opportunities to build on the strong tax and regulatory systems and unlock the investment needed to underpin the UK's contributions to a low carbon future.”

Jonathan Dunn, Head of Climate, Anglo American

Why it's needed

2023 broke every climate indicator: it was the warmest year on record, sea levels reached record highs and greenhouse gas concentrations continued to rise. The UN found that national climate action plans are still insufficient to limit global temperature rise to 1.5 degrees Celsius. The threat from climate change remains devastatingly real. 

The need to address these challenges creates substantial economic opportunities for the UK in emerging net zero markets – opportunities of between £37 and £57bn added to GDP by 2030, if we act now.

With major infrastructure projects cancelled and the UK falling behind global competitors, business’ confidence to invest is low. We can’t outspend our international competition, but we can outsmart them by unlocking private investment.

To unleash the private capital the UK needs to transition, the government must maximise the investment and commercial opportunities for business. 

Success can create jobs, provide greater energy security, lower energy costs, increase tax receipts, fund public services and help avert a climate emergency.

The UK must unlock its green growth potential to tackle climate change and supercharge the economy.

Green growth is everybody’s business

Failing to invest now will lead to greater costs later

Too often, the question is, "Can we afford net zero?" when the real question is, "Can we afford not to?" Without going green, there won’t be long-term growth.

In 2023, when the UK economy overall grew by just 1%, the net zero sector grew by 9%
Ongoing damage to nature could lead to a 12% loss in GDP over the next decade
Green growth could deliver a GDP boost of up to £57bn a year by 2030

Net zero for every business

Achieving net zero demands real change across all sectors. Discover how your business can join the global fight against climate change and how the CBI is supporting your transition.

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Sustainability in the era of opportunity
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Closing the Green Gap: How behaviour change can meet sustainability goals
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What the Climate Change Committee’s recommendations mean for your business
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Trade Association Update: May 2024