Achieving net zero: Ending the UK's contribution to climate change

The UK’s transition to a net zero economy

The UK will be the first major economy to legislate for a net zero target.

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Simon Virley - Partner and Head of Power and Utilities - KPMG UK

Vice Chair and Head of Energy and Natural Resources

KPMG in the UK

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On Tuesday 11 June, Prime Minister Theresa May announced that the UK would be the first major country to legislate for a net zero target for carbon emissions by 2050, in line with the recent recommendations from the Committee on Climate Change (CCC). 

Key points:

  • Meeting the net zero carbon emissions target by 2050 will require fundamental changes in all sectors of the UK economy
  • The starting point should be a step change in energy efficiency 
  • New low-carbon technologies in power, transport, industry and heat will be needed at scale to achieve this target. This will require a co-ordinated, whole systems approach and a clear policy framework, not piecemeal initiatives
  • A range of innovative frameworks for financing these technologies will be required to secure the significant capital investment required
  • Businesses have a key role to play in driving the innovation in new technologies and establishing the new industries required in a zero carbon economy.

Download our report to find out how the industry can address the challenge of Achieving net zero, ending the UK’s contribution to climate change (PDF 259KB). We discuss the opportunities and where investment is required for the power, transport and heat sector.

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