The Prime Minister of the United Kingdom, Boris Johnson has outlined his ten-point plan for a green industrial revolution. Perhaps this signals that the starting gun in the race to net zero has now been effectively fired. Engineering and Innovation, where we operate, will be key, mainly in the five areas that we're focusing on today.
Carbon Capture
The ambition here is to make UK the world leader in carbon capture and storage. The target for 2030 is to prevent 10 million tonnes of carbon dioxide from reaching the atmosphere. From the Government this means additional funding of £200m to create two carbon capture clusters halfway through this decade and two more by 2030.
Nuclear
In another boost for the nuclear sector, the UK PM announced £525m of funding, which also includes money for research and development of new advanced modular reactors.
Ban on Petrol
This is by far the most limelight-grabbing announcement in this set, with plans to end sale of new petrol and diesel driven vehicles by 2030. In terms of funding, grants and investment, £1.3bn for new charging stations and £582m in grants for people buying zero emission or ultra-low-emission vehicles are on. An additional £500m will be made available in the next four years on the development and mass production of EV batteries.
Jet Zero
This is a fascinating one, and by far, the most ambitious one too. Decarbonising the aviation sector with net-zero flights or jet-zero is what the focus here is.
Low Carbon Hydrogen
In this area, the UK PM has announced the government would work with industry to generate 5GW of low-carbon hydrogen production capacity by 2030. This will be for industry, transportation, power and homes. Lots of funding seems to be available here also.
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