As part of Government’s commitment to meeting climate targets, the Clean Growth Strategy was announced this week. Outlining policy around Government’s aims to ensure an affordable energy supply and have positive effects on the environment, the strategy seeks to create jobs, boost funding, and increase productivity and outputs. This strategy takes valuable first steps in policy development around UK targets and Paris Agreement climate change obligations.
The plan lays out a £2.5 billion investment to support low carbon innovation to 2021, which is set to research and develop low carbon energy, transport, agriculture, and waste. In addition to this, Government says it will leverage investments received and provide £20 million towards the development of green technologies.
Collaboration with industry is put in the spotlight in this strategy and the business sector has responded to the plans with mixed remarks. Businesses stand to benefit from Government assistance in improving energy productivity in the years up to 2030 and a carbon price target will provide a level of certainty around emissions pricing.
For many businesses and individuals alike, the strategy marks the first necessary steps in achieving Government’s aims for clean growth and is a fundamental tenet within broader industrial strategy when it comes to secure, affordable energy pricing in future. It has been argued that policy needs to be further developed and delivery needs to be seen before Government’s ambitions can be seen to have been achieved. At Smarter Business, our experts have their eye on developments within the energy sector and actively assess what this means for our customers. Energy strategy is important no matter the size of your business and we are here to assist you effectively procure and manage the best contracts for your enterprise. Contact us to find out more about how we can help your business.