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CBI urge Government and businesses to seize the net zero opportunity

The CBI has urged the government and businesses to work together to win the global race to net zero in its ten-year strategy for the economy worth £700 billion.

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CBI urge Government and businesses to seize net zero opportunity
CBI urge Government and businesses to seize net zero opportunity

The Seize the Moment report from the CBI, outlines the establishment of the UK as a leading net zero exporter. It highlights the potential to drive an increase in decarbonisation exports to the European Union, including:

  • £18 billion in electric batteries and electric vehicles
  • £1 billion of carbon capture, usage and storage
  • £8 billion of hydrogen electrolyser production
  • £3 billion of offshore wind goods and services

The report details the creation of 240,000 net new jobs, including a levelling up of new new green jobs across the regions and nations.

 

The CBI has outlined six ways to transform the UK economy after the pandemic including:

  • A decarbonised economy, with UK businesses winning the global race to net-zero
  • An innovation led economy, encouraging breakthrough ideas and technologies
  • A globalised economy, making the UK a trading powerhouse
  • A regionally thriving economy, with every region and nation playing to their comparative strengths
  • An inclusive economy, where employers recruit more diverse talent from across the nation and build re-skilling programmes to close the skills gap
  • A healthier nation, with focus on employee health and wellness to build a strong foundation

Tony Danker, director-general of the CBI said:

“Our plan is to make the UK the most competitive, dynamic and future-focused economy in the world. Become a beacon to the world in achieving green growth. Decarbonising our economy is a planetary imperative, we can use our transition to net zero to create green jobs, to find sustainable solutions and sell them to the rest of the world.”

The report identifies actions needed by both businesses and government to realise the prizes and recommendations for boosting the UK Government’s growth plan, regulatory reform for investment and innovation, the development of globally leading clusters in our regions and nations, a transformation of skills delivery, the unlocking of finance for growth and a long term tax roadmap for the UK that supports business investment and the UK’s net zero ambitions.

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