Climate and Green Transition Policies

Key points

• The United Kingdom aims to achieve 'net zero' greenhouse gas (GHG) emissions by 2050. While it has successfully met its first three carbon budgets, the challenge of the next ones looms large, demanding even more aggressive action in reducing emissions.
• The United Kingdom must speed up efforts to reduce carbon emissions in all sectors, particularly energy, transport and buildings. Coordination between local and central government will play a critical role in making steady progress towards this goal.
• The United Kingdom’s energy mix remains heavily reliant on fossil fuels, emphasising the need to accelerate the deployment of renewable energy sources while enhancing energy security.
• Carbon pricing is essential for the United Kingdom's climate policy framework, providing revenue that can be used to support further climate actions and mitigate the economic impact of environmental policies.
• Mobilising substantial public and private investments, estimates suggests that £50-60 billion will be necessary from 2030 onwards to support the country's transition, and developing the necessary green skills in the workforce is needed for achieving the green transition.

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