Why it matters
To avoid catastrophic worldwide impacts, we must limit the rise in global temperatures. Net-zero isn’t just morally and socially important: there are major opportunities for all UK businesses, from growing customer demand, lowering costs, new export markets and job creation. Only business - in collaboration with government - can provide the scope of innovation and investment needed to achieve net-zero.
THE SIZE OF THE PRIZE
What can business and society gain from a net-zero world?
Seize export opportunities in green products and services
The UK can be a leading net-zero exporter in fast-growing global markets; for example capturing £18bn in additional revenues from higher exports to the EU of electric vehicles and vehicle batteries.
240,000 net new green jobs
Create 240,000 net new green jobs by 2030 across all parts of the UK and support a ‘just transition’ to the low carbon economy.
Be part of something bigger
Join other organisations in the Race to Zero and demonstrate your commitment.
How do we do this?
Deliver a decarbonised power system
See through the transition to new, low carbon power sources and a flexible smart energy system.
Accelerate progress in cutting emissions
This has to extend beyond the power sector, with a focus on industry, transport and buildings.
Secure a growing share of low-carbon exports
Focus on markets such as electric vehicles, hydrogen, offshore wind and carbon capture, usage and storage.
Ensure the UK remains a global hub for sustainable finance
Reinforce the UK’s position by boosting issues of green bonds and carbon offset trading.
What the government needs to do
Back key technologies with high exporting potential
Leverage the UK’s competitive strengths, for example supporting the electric vehicle market by committing to the development of seven gigafactories by 2040
Ensure the power of public spending is harnessed
Launch a cross-government Green Procurement Taskforce, with emphasis on how public procurement can create markets for green tech and incentivise change in behaviours.
Incentivise energy efficiency home improvements
Implement a long-term incentive and mandate that all new boiler installations after 2025 should be part of a hybrid system or ‘hydrogen-ready’.