Prime Minister Boris Johnson recently announced that £350 million is being made available to cut emissions in heavy industry and to also lead economic recovery from the coronavirus crisis.
The funding is expected to help drive the decarbonisation of heavy industry, construction, space, and transport and will also aid the efforts to tackle climate change and reach net zero by 2050. It is also hoped that with this multimillion-pound investment package that the UK will secure its place at the forefront of green innovation.
Boris Johnson, Prime Minister, said:
“We’ve made great strides towards our net zero target over the last year, but it’s more important than ever that we keep up the pace of change to fuel a green, sustainable recovery as we rebuild from the pandemic.
The UK now has a huge opportunity to cement its place at the vanguard of green innovation, setting an example worldwide while growing the economy and creating new jobs.
That’s why we’re backing cutting edge research to cut costs and carbon across our great British industries, and even paving the way for the first ever zero emission long haul passenger flight – so that our green ambitions remain sky high as we build back better for both our people and our planet.”
Alok Sharma, Business and Energy Secretary, further commented on the challenge of climate change and said that this funding will help to “reduce emissions, create green collar jobs and fuel a strong, clean economic recovery – all essential to achieving net zero emissions by 2050.”
The package includes:
- £139 million to cut emissions in heavy industry by supporting the transition from natural gas to clean hydrogen power, and scaling up carbon capture and storage (CCS) technology
- £149 million to drive the use of innovative materials in heavy industry
- £26 million to support advanced new building techniques to reduce build costs and carbon emissions in the construction industry
- A £10 million boost for state-of-the-art construction tech which will go towards 19 projects focused on improving productivity and building quality, for example, re-usable roofs and walls and “digital clones” of buildings that analyse data in real time
- Launching a New National Space Innovation Programme backed by £15 million initial funding from the UK Space Agency, which will see the first £10million go towards projects that will monitor climate change across the globe
- Opening up bids for a further £10million for R&D in the automotive sector, to help companies take cutting edge ideas from prototype to market, including more efficient electric motors or more powerful batteries
Over the past 10-years, the UK has already begun to cut carbon emissions. In 2019, UK emissions were 42% lower than in 1990 all the while the UK economy grew by 72% over the same period.
For further information on the investment package, please visit the gov.uk website here.