Review of Net Zero

Review of Net Zero: IET comments to the Department for Business, Energy and Industrial Strategy on 25 October 2022.

The IET has responded to the BEIS Review of Net Zero, which looks to ensure that the target does not place undue burdens on businesses or consumers.  The review will report at the end of 2022.

The IET’s response contains the following key points:

• Net Zero increases the UK’s opportunities for growth and reduces our risk levels in coping with the effects of climate change and related economic decline. This can give the UK a significant competitive advantage over its international competitors.
• A wide range of net-zero technologies are currently available that together can deliver solutions in many business areas and generate growth. However, no single technology will be suitable for all challenges.
• A whole-system, integrated approach that focuses on energy efficiency and resilient, sustainable energy infrastructure networks is key to delivering sustainability in an economically-viable manner. This can help us use less energy and produce more of our own.
• The government should focus on energy security resilience, minimise exposure to fuel price volatility and provide a high level of cyber security to prevent system vulnerabilities. This will support business confidence with additional positive impacts for investment, growth and employment opportunities.
• An integrated drive is needed to ensure net zero new build and the retrofitting of existing stock. This will lessen the need for energy supplies, as well as enhancing business and employment opportunities as economies of scale take effect, and sustainable measures become more cost-effective.
• There should be a fair and just transition to net-zero that works to level up communities. This will bring its own economic benefits, and provide health and social improvements for individuals.

The above measures need to be done at scale and at speed, and be driven by government leadership and consistent, long-term, outcome-focused policies. 

This will give industry the confidence to innovate and invest in developing the technology, skills, supply chains and infrastructure that underpin future long-term growth.