THREAD: Given the Prime Minister will shortly publish his long-awaited 10-point green plan, I thought I would set out what I would have recommended he did if I was still in No10. Lots no doubt missing, but hopefully ambitious, while still being politically possible.
#1 Net Zero power supplies: Given importance of electrification, set a bold date to completely decarbonise (more or less) electricity. Could be 2040, or even earlier. Should also set out 10-year ‘Acceleration Plan’ for bringing forward non-commercial tech (e.g., floating wind).
#2 Redo the wiring: Given need to decarbonise the whole economy, need to stop thinking fuel by fuel. Create an independent ‘Net Zero Energy Agency’ that identifies what is required, then uses power of markets to deliver it, while also bringing forward strategic tech (e.g. CCUS).
#3 Rollout what is ready: To make rapid progress and create green jobs, set a target for reducing individual carbon footprints by 2030 through deployable tech (e.g. electric heat and energy efficiency). Use regulatory measures (e.g. phase out boilers) and targeted public support.
#4 Agree who pays: Commit not to increase burden of decarbonisation costs on elec bills to boost electrification. Set out a ‘Net Zero Financing Framework’ with models to unlock private capital in key tech (CCUS, nuclear) and outline where taxpayer’s will need to fill the gap.
#5 Use the power of the price: To spur innovation so people cut their carbon footprint (e.g. smart car charging), implement short-run price signals at a local level. Will accelerate creation of local energy markets, boost digitisation, open up data and help grid manage peaks.
#6 Price that carbon: It’s not a silver bullet, but carbon pricing will help deliver net zero. Start by scrapping arbitrary non-carbon charges (e.g. fuel duty), implement a range of carbon ones to replace and set economy-wide 2030 target price, ideally aligned internationally.
#7 Build a UK EV powerhouse: Vital to bring forward ICE phase out date, but also need to support transition. Should include more investment in strategic charging infrastructure, measures to help manufactures adapt (e.g. ZEV credits) and prioritising a UK gigafactory.
#8 Test what works: Before we make big bets on uncertain tech (e.g. hydrogen and GGRs), implement major trials to test the case. Could be delivered by the networks through enhancing strategic R&D spend, opening up what suppliers can trial and testing at key industrial sites.
#9 Create a green and pleasant land: Galvanise public support by delivering a decade of natural renewal targeted at climate change. Could include a legislative target for afforestation, a new UK ‘COP26 Forest’ and a more robust market for nature-based carbon offsets.
#10: A Net Zero Government: Create a high-powered ‘Net-Zero Unit’ that is properly resourced (incl. analysts), reports into a powerful Minister and can negotiate directly with HM Treasury. Should also reform Green Book to value economic and jobs benefits of regional green spend.
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