United Kingdom

Clean Growth Strategy

Passed in 2017
 The Clean Growth Strategy exposes how the Government intends to foster national income while reducing greenhouse gases emissions, and do so at the least possible cost for taxpayers while maximising the social and economic benefits. The Strategy comes in line with the commitment made under the 2008 Climate Change Act that requires the country to reduce its emissions "by at least 80% by 2050". The Strategy acknowledges that efforts to reduce emissions will have to significantly ramp up in order to meet the fourth and fifth carbon budgets (covering the periods 2023-2027 and 2028-2032). Beyond setting up the strategy to 2032, the document explores electrification, hydrogen and emissions removal as three pathways to 2050.
 The Strategy firstly highlights the image of leadership and situation of progress that the country has made in the last two decades. It details the economic opportunities brought by the Paris Agreement for its low-carbon industries, notably thanks to its academic strength, expertise in high-value service and financial industries and stable regulatory framework. According to the document, the low carbon sector could grow by around 11% a year on the period 2015-2030, or four times faster than the overall economy, and "could deliver between £60 billion and £170 billion of export sales of goods and services by 2030". The document also mentions the co-benefits of actions to reduce greenhouse gases emissions on local air quality, public health, the economy and the environment. The Strategy also recalls the objective of energy affordability and the fact that leaving the EU represents an opportunity as "domestic binding emissions targets are more ambitious than those set by EU legislation".
 A number of more precise objectives are detailed as following: 1) develop green finance capabilities, including by setting up a green finance taskforce and providing up to £20 million to support a new clean technology early stage investment fund,- 2) develop a package of measures to support businesses to improve their energy productivity, by at least 20% by 2030,- 3) improving energy efficiency and aiming at reducing emissions from homes by 19% and energy use by 9%,- 4) rolling out low carbon heating,- 5) accelerate the shift to low carbon transport and reduce emissions by 29% by relying mostly on electric vehicles,- 6) deliver clean, smart, flexible power,- 7)enhance the benefits and value of domestic natural resources,- 8) and lead in the public sector. The government also commits £2.5 billion of investment in transport (33% of the total), power, cross-sector, smart systems, homes, business and industry, land use and waste.

from the Grantham Research Institute
from the Grantham Research Institute
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