The Independent Review of Net Zero set out the economic opportunities of net zero

• An independent review, led by Chris Skidmore MP, a Conservative Member of Parliament

• Focused on ‘Delivering a pro-growth, cost-effective net zero in the context of global economic shocks’

• Over three months, the Review led 52 evidence sessions, meeting more than 1000 businesses, universities and other organisations. It received more than 1800 written evidence submissions.

• In January 2023, it published its report ‘Mission Zero’. It made 129 recommendations, including:

⚬ Review UK incentives in the context of the Inflation Reduction Act

⚬ Clear plans to deliver 70GW of solar

⚬ A public engagement plan

• Its major conclusion: net zero is the growth opportunity of the 21ˢᵗ century

• The UK has a long-term plan for reaching net zero – as set out in its 2021 Net Zero Strategy

• This is driving decarbonisation across the economy

• Net zero and energy security are two sides of the same coin – brought together in the Powering Up Britain plans

• 2023 is another important year of action

• The UK’s strategy is built on growing the economy while responding to climate change

Sustainability Strategy Day

Thursday, 1st June 2023

Addressing Carbon Leakage Risk to support

Decarbonisation

Timothy Stock

Head of Embodied Emissions

Reporting - Industrial Decarbonisation at Department for Business, Energy and Industrial Strategy (BEIS)