Chris Skidmore: Net zero underpins business success

Working towards net zero targets

On Friday, former Energy Minister Chris Skidmore, published his Net Zero Review, outlining the ‘historic’ opportunities offered by net zero. He is one of the greenest Tory MPs and signed the 2050 emissions target into law in 2019 when he was energy minister. The review, named Mission Zero, highlights 129 recommendations that cover a realm of different areas including: better use of infrastructure, energy efficiency in homes and business support. Mr Skidmore suggests that every recommendation is designed to maximise economic investment, opportunity and growth while working towards targets of net zero by 2050, should ministers execute them. The Chair of the Net Zero review further stated:

…we should be proud of the lead the UK has taken in tackling climate change, having exceeded expectations so far in our race to net zero emissions by 2050. As essential as that is environmentally, it also puts us at an economic advantage globally.

The proposal is broken down into 4 key sections that tackle climate change with a pro-growth and pro-business attitude.

1. Backing business: incentivising investment in decarbonisation and backing small business campaigns such as ‘Help to Grow Green’ that offer information and advice on launching sustainably
2. Backing local: putting net zero at the heart of planning systems across the country and backing at least one Trailblazer Net Zero city
3. Energy efficient homes: legalisation for the standard of future homes so that no new homes will be built with a gas boiler by 2025. Instead, adopting a 10-year mission to make heat pumps a widespread technology in UK homes
4. Infrastructure: reliance on green energy sources within the infrastructure strategy such as hydrogen, to support the green economy

Chris Skidmore stresses the importance of the government in heeding the report’s recommendations; the UK is still falling behind on some targets and needs a new approach. Mr Skidmore spent months meeting politicians, business owners and energy experts as part of building the evidence for the report. He stated, “in developing this report, we have engaged with communities, economists and climate experts from across the country through more than 50 roundtables and 1800 submssions – all of which have led to the Mission Zero findings”. This hard work paves a path in the right direction for governments to ingest and carry forward in their future policies but is not to be taken lightly. Sources in the renewable energy sector suggest that the approach the government needs to take in order to be effective, should be similar to the one used for developing the corona virus vaccine.

Business success and net zero

We have reached a tipping point with climate change where the risks of not acting are greater than the risk of taking action towards net zero, whether that be for the stability of business or the future of our children. Net zero is creating a new era of change and opportunity. What this report demonstrates is that green investment doesn’t have to mean economic downturn and that business success and net zero can and will go hand in hand. The report does acknowledge pressures on SMEs to move to Net Zero, but more ambitious tax incentives than those proposed, and additional funding support, will be required to help address this.

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