BUILD NEW NUCLEAR POWER STATIONS AND INVEST IN CARBON CAPTURE TO REACH NET-ZERO - CBI
Comprehensive infrastructure network for electric vehicles needed
The UK should build new nuclear power stations and scale up carbon capture technology and infrastructure to reach the Government’s target of net-zero greenhouse gas emissions by 2050, according to the CBI.
In a letter to the Secretary of State for Business, Energy and Industrial Strategy, Britain’s largest business group sets out a series of priorities to decarbonise the UK economy and calls on the Government to use a forthcoming Energy White Paper to give more clarity on its vision. The priorities include:
- Progressing large-scale nuclear projects and supporting innovative nuclear technologies, such as Small Modular Reactors
- Technology trials to determine the best, localised solutions to fully decarbonise heat in homes, offices and industrial processes
- A clear mix of incentives for consumers and businesses to buy electric and hydrogen-powered vehicles, alongside comprehensive nationwide infrastructure ready for future demand
- Rationalising the tax and business rates system to ensure green energy is encouraged, not penalised
- Hosting COP 26 to showcase to the world the UK’s expertise in green technology and commitment to leading on climate change action.
Rain Newton-Smith, CBI Chief Economist, said:
“Business is right behind the need for the UK to have a net-zero economy by 2050 and build on our global leadership in cutting greenhouse gas emissions.
“To deliver the Government’s admirable net-zero policy by 2050, it is mission critical that business, politicians and the public work together to devise and make the necessary changes.
“Firms want to see a whole host of stable, long-term policies enacted – from building new nuclear power stations to scaling-up carbon capture and storage technology and infrastructure – that send markets a robust signal: the UK is open for green business, and is a world leader in tackling climate change.”