Welcome to Copper’s Infrastructure Insights, where this week we discuss the necessary steps needed to fulfil the UK’s net zero ambitions and perceptions towards renewable energy projects.
The House of Lords Industry and Regulators Committee has published its net zero transformation report, concluding that the Government is likely to miss its 2050 net zero target while it lacks credible plans to encourage essential investment.
The committee is calling for a new Energy Transformation Taskforce within Government to lead on setting and co-ordinating net zero strategy and policy.
Analysis
Any suggestions around increasing the financial burden on consumers are likely to be highly contentious given the existing cost of living crisis. Decisions on funding, borrowing and regulation need to be made as a matter of urgency for the UK to attract overseas investment.
As MPs and other public figures continue to raise new objections to the UK’s green agenda, the Government must clarify their approach to net zero. Copper’s public attitudes to net zero and infrastructure report demonstrated the importance of capitalising on public support for green projects, suggesting that organisations should establish clear roadmaps outlining small steps balancing the cost of green growth across the private and public sectors.
Our journey to net zero will require public support, which will depend a great deal on effective communication and transparency.
Tory MPs urge bigger ‘floating’ wind target to boost energy security –Financial Times
Members of the Conservative Environment Network have urged business secretary Kwasi Kwarteng to increase targets for “floating” offshore wind farms – to strengthen the UK’s energy security in response to Russia’s invasion of Ukraine and its accompanying impact on gas prices.
Analysis
While the Government faces challenges regarding a lack of clarity over their road to net zero, floating offshore wind presents them with a clear opportunity to lead the offshore wind sector globally. The Government’s net zero strategy incorporates a wide range of technologies. Clearly communicating their benefits to the public is crucial to the UK fulfilling its net zero ambitions.
