The Government is expected to reveal several new green energy policies and decarbonisation commitments, which are intended to help it meet the country’s climate change goals.
It’s in response to the US Inflation Reduction Act, and President Joe Biden’s $368 billion subsidy for low and zero carbon energy projects.
But there are reports that the UK’s response, due on Thursday, could be watered down, potentially driving away huge amounts of green investment from the UK, and that the day could be rebranded as “energy security day” instead.
Here’s what you need to know about the Government’s Green Day.
What is the Government’s Green Day?
Tomorrow (March 30), the Government is expected to announce its revised net zero plans. It is expected that the Government will publish the updated Net-Zero Strategy alongside a string of other measures relating to the climate.
What will be announced on Green Day?
The announcement is expected to include the Government’s response to a high court ruling that its net zero strategy was unlawful, as well as a response to an independent net zero review carried out by Conservative MP Chris Skidmore. It had 129 recommendations on how the road to net zero could also be the UK’s path to economic growth.
However, green groups have expressed concerns that the plans will not go far enough and could contain support for continued fossil fuel use.
It is thought the Government will defend the fossil fuel industry, pump money into carbon capture and storage, and announce the licensing of a a new oilfield – Rosebank.
Luke Murphy, Institute for Public Policy and Research associate director and head of its work on climate, nature and energy, said: “This should be the moment to seize the economic opportunities of the global green race but instead the Government’s dithering risks the UK becoming the ‘sick and dirty’ man of Europe once again.
“To compete with our international counterparts, we need a step change filling the close to £30bn annual gap in investment needed to reach net zero and restore nature, and committing to a modern industrial strategy. That means investing in clean homes, transport and industry.
“There appear to be some welcome though minor measures, consultations and reannouncements announced today but the Government must urgently bring forward its plans now postponed till later in the year. The UK needs to change course urgently, before it’s too late.”
Ed Miliband has said he fears a “boulevard of broken dreams” when the Government announces its revised net zero plans on Thursday.
The shadow net zero secretary urged the Government to end the ban on onshore wind farms and step up investment in energy efficiency for Britain’s homes in a speech at Octopus Energy’s headquarters on Oxford Street. Mr Miliband said making the UK’s homes more energy efficient “continues to be the biggest no-brainer in policymaking and the biggest failure is not having proper investment in energy efficiency”.
In addition, some are also expecting announcements to be made in relation to the nuclear sector, given what Mr Hunt said in his Budget speech.
Speaking to the Commons this month, Mr Hunt said: “Because the wind doesn’t always blow and the sun doesn’t always shine, we will need another critical source of cheap and reliable energy. And that is nuclear.”
