Decarbonising while cutting energy costs will drive UK investment – Aldersgate Group reaction

Reacting to the publication of the UK Carbon Budget and Growth Delivery Plan, Executive Director of the Aldersgate Group, Rachel Solomon Williams, said: “Economic growth must be based on decarbonisation, especially given the material risk that climate change poses to businesses and the opportunities offered by the global transition. The Climate Change Act, and the delivery plans that it requires, helps the UK to maintain its leadership position. It also offers certainty and attracts global investment to futureproof the UK economy.

“We welcome the clarity provided by the new Carbon Budget and Growth Delivery Plan: it sets out a comprehensive approach to tackling emissions across all sectors, aligned with the government’s growth mission. Investor confidence will be further strengthened as more details on delivery emerge, including the upcoming Warm Homes Plan and industrial decarbonisation plan. However, the persistently high price of electricity continues to hold back growth and decarbonisation across multiple sectors, as well as putting pressure on households. We urge the government to prioritise action on power prices in the forthcoming Budget.”