Now is the time to invest in net zero
Date published:
The Chamber’s latest column for The Journal by Marianne O’Sullivan, policy manager.
Net zero represents a key opportunity for the North East to create jobs in new industries. Pioneering green technology is being trialled in the region including energy from mine water, heat pumps and offshore wind.
Businesses in the North East will continue to grow and invest in their net zero strategies. The climate crisis isn’t going away, and we want the region to be leading the way in this field. We are disappointed in the government’s rollbacks, our members need certainty, clarity and incentives from government to encourage the green sector to grow.
Ahead of a general election, the Chamber is working with the British Chambers of Commerce on five key challenges the UK economy is facing, including green innovation. Some of the key priorities include ensuring that there is sufficient capacity and flexibility on the National Grid, reducing the time it takes to gain planning consent for offshore wind and ensuring price signals set by government are sufficient to incentivise investment. Faster action to place the policy framework required for carbon capture, utilisation and storage will also be key.
Offshore wind is particularly important for the North East, Dogger Bank is set to be the world’s largest offshore wind farm. The region is also home to the offshore renewable energy catapult which is the UK’s leading innovation centre for offshore renewable energy. Removing any barriers to future projects will be essential in continuing growth of the offshore sector in the region.
Internationally, the USA and the EU have developed ambitious policy proposals to incentivise low-carbon industrial innovation. Without a response to this, the UK risks losing out on investment opportunities. The UK needs to take steps on planning rules, fiscal incentives and skills policies to ensure the continued growth of low carbon technology developments.
In terms of skills, the Chamber’s Local Skills Improvement Plan for the North of Tyne area has focussed on green skills in the construction sector in particular, with future job opportunities around retrofitting housing. In phase 2 of the project, we are working with education providers to ensure training on new green technology forms part of current apprenticeships and training schemes.
The Chamber will campaign to remove barriers to green innovation in the region and encourage investment in the North East. We need the government to be willing to tackle the big issues like infrastructure, and incentives to encourage the green sector to grow.