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Assured Energy Outlook: Issue 33 – Jun 2019

Government to set target for net zero by 2050

On 12 June, Prime Minister Theresa May announced that the government would lay legislation to implement a target for the UK to achieve net zero emissions by 2050. This will amend the Climate Change Act 2008. The Prime Minister also urged other economies to follow the UK’s lead and set their own targets.

The Prime Minister confirmed that the legislation will see the UK remaining on track to become the first G7 country to legislate for net zero emissions.

Business Secretary Greg Clark also stated in a House of Commons Debate that whilst “there are many issues in this house on which we passionately disagree, there are moments when we can act together to take the long-term decisions that will shape the future of the world.”

The decision was well-received across the industry, where Committee on Climate Change Lord Deben called it a first step, noting that the target must now be supported by “credible UK policies”. Energy UK CEO Lawrence Slade added that “the energy sector is ready to lead further progress which will deliver benefits for the environment, the economy and customers.”

However, Shadow Business Secretary Rebecca Long-Bailey said: “Since 2015, when the Conservative Government secured a majority, they have systematically dismantled the policy frameworks that were designed to tackle climate change. They have effectively banned onshore wind, reduced almost all support for solar power, scrapped the zero carbon homes standard, sold off the UK Green Investment Bank, removed support for tidal power, and relentlessly pushed fracking.”


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