The Government has appointed Tory MP Chris Skidmore to lead a review of net zero.
He has been tasked by Business Secretary Jacob Rees-Mogg with finding the most effective ways of reaching the Government’s established climate target while making the most of business opportunities and bolstering energy security.
The former energy and climate minister has until the end of the year to present his findings to Liz Truss, the new Prime Minister.
Skidmore’s review will scrutinise the green transition to make sure investment continues to boost economic growth and create jobs as well as increase the UK’s energy independence.
His review would look at how to incentivise businesses to take up the green industrial revolution and increase growth.
He will look into ways to maximise the economic opportunities the target presents as well as increase innovation, investment, exports and jobs.
It will also look at the economic costs and benefits are associated with new and emerging policies and technologies.
The review is expected to include a range of evidence from consumers, investors, industrial leaders and experts in various fields including energy, land use and transport.
2050 net zero aim remains in place
The UK’s aim of reaching net zero carbon emissions over the next three decades remains in place, with Government reaffirming its 2050 target as recently as the COP 26 climate summit in Glasgow last October.
In the run up to the conference, the government published its Net Zero Strategy, setting out an overarching approach to carbon neutrality.
Since then, however, there have been major changes to the economic and political landscape.
This includes Russia’s invasion of Ukraine which has driven global energy prices to all-time highs and powered historic levels of high inflation.
These factors have placed huge pressures on British households and businesses, and the Government now believes it is essential the UK reaches net zero in a way that avoids exporting industry and emissions overseas.
Skidmore explained: “This review seeks to ‘double down’ on how we can ensure that our energy transition happens at the same time as maximising the economic opportunity for businesses and households across the country, providing huge opportunities for innovation, investment, exports and jobs.
“I want to ensure that net zero isn’t just viewed as the right thing to do for our environment- but becomes an essential driver of economic growth.”
Rees Mogg, added: “The government remains committed to reaching our net zero emissions targets, but with Russia weaponising energy across Europe we must make sure we do so in a way that increases energy security and does not place undue burdens on businesses or consumers.
“Chris Skidmore’s rapid review will help us identify how best to make that happen, while also ensuring all parts of the UK reap the economic benefits of tackling climate change that I have no doubt will be on offer.”