The government of the United Kingdom has been working ambitiously to achieve the predefined objectives under the Prime Minister’s Ten-Point Plan, encouraging the businesses, industries, as well as new-age enterprises to operate in-line with the objective of reaching net zero in the upcoming decades.
Following the global disquietness with regard to the climate change concerns, the Downing Street administration has been thoroughly supporting the green energy initiatives and the innovative projects that can help in transforming the conventional operations to become more environment-friendly.
There have been several monetary supports announced by the government that can handhold the industries to lead the green energy revolution, from bolstering the recharging infrastructure for electric vehicles (EVs), including the battery-powered electric vehicles and the plug-in hybrid electric vehicles, to decreasing the emissions from industries and other fossil fuel-fired equipment remaining the primary objective.
The Department for Transport, alongside the Department for Business, Energy and Industrial Strategy, has been on-the-spot when it comes to helping the under-aided projects that can emerge for the greater good of the UK. For the broader objective of the Green Industrial Revolution, the government has announced a multi-million pound cash injection that is designed to transfigure the processes of capturing carbon emission, developing efficient fuel systems and removal of greenhouse gases.
Very recently, the Department for Business, Energy and Industrial Strategy allocated a sum to the tune of £166.5 million intended to boost the developments in critical technologies benefiting the energy-intensive businesses. According to the initial estimates by the government, the multi-million pound is likely to create more than 60,000 well-paid jobs in the green energy sector across the UK.
Furthermore, the package will help in reducing the effective costs for the businesses that are yet to fully comply with the net zero guidelines issued by the government. The investment from the government will be directed to the businesses, academics, innovators, heavy industries across the UK in a desperate bid to catalyse the delivery of transformational technologies that are likely to amplify Britain’s effort in reducing the carbon footprint from the country.
With this multi-million aid, the industries and businesses will be encouraged to identify comprehensive solutions that can help in decarbonising the polluting sectors in the UK, including energy, manufacturing, steel and waste management. The enterprises that are facing difficulties in diminishing the overall expenditure will be able to lower the cost heads, maintaining the competitiveness, paving the way for most commercial setups to come forward with a similar initiative.
While improving the efficiencies or processes, the businesses can gradually protect the existing jobs alongside creating new employment opportunities for the skilled workforce with a collective aim of transitioning to a green economy.
The said investment for strengthening the objective of the green industrial revolution will help in expediting the trajectory towards the ultimate target of reaching net zero emissions by 2050. In an effort to achieve the world’s most ambitious climate change target, the net emissions from the UK are expected to reduce by 78 per cent by 2035 as compared to the levels seen in 1990.
Along with this, the technological advancements that will be recognised with the help of this funding can further assist in buttressing the broader objective of alleviating 10 megatonnes of carbon dioxide while generating 5GW of hydrogen by 2030. The initiative as a part of the Prime Minister’s 10 Point Plan is likely to help in creating mega employment opportunities in the UK, effectively creating as much as 250,000 new green jobs.