Two-thirds of Brits support UK’s Green Industrial Revolution

Green Industrial Revolution

Two-thirds of Brits support UK’s Green Industrial Revolution

The results of a survey (23 February 2021) by the Politics of the Environment and Climate Change lab (PECC) at Royal Holloway, University of London, show that 64% of UK adults support Boris Johnson’s plan to meet net-zero emissions targets.

Of the 3000 people polled, nearly two-thirds are keen for a rapid expansion of the UK’s hydrogen, electric vehicle (EV), clean energy, and carbon capture and nature sectors.  The majority of respondents favoured tree planting, offshore wind power, grants for electric vehicles and funding for electric public transport over policies for maritime, nuclear and aviation sectors.

The UK leads with way with its 10-point plan for a Green Industrial Revolution.

In November 2020, the Prime Minister outlined his 10-point push towards a UK Green Industrial Revolution. Whilst looking to move forward through the COVID-19 crisis, Mr Johnson will place a £12bn government investment into his environmental programme. Seen as ” and hailed as a milestone, the initiative will support 250,000 green jobs and turn the UK into the top centre for green technology and finance.

What are the government’s plans for green recovery?

A summary of the 10-point plan:

  1. The UK to create enough offshore wind energy to power every home by 2030.
  2. A £500m hydrogen investment that will turn water into energy.
  3. A substantial move forward with new nuclear power plans.
  4. Investing over £2.8bn into electric vehicles and ending the sale of new petrol/diesel cars by 2030.
  5. Provide cleaner public transport across the UK, including thousands of green buses and miles of new cycle lanes.
  6. Striving to achieve the first non-stop transatlantic flight with a zero-emission plane and undertaking the same accomplishment with ships.
  7. A £1bn investment to make homes, schools and hospitals greener as well as lower energy bills.
  8. Establish a new world-leading industry in carbon capture and storage across the North, Wales and Scotland with a £1bn government investment.
  9. Harnessing nature’s ability to absorb carbon by planting 30,000 hectares of trees a year by 2025 and rewilding the countryside.
  10. A £1bn energy innovation fund to commercialise cutting-edge, low-carbon technologies. The City of London to become the global centre of green finance.

“Green and growth can go hand-in-hand”

The Prime Minister is not alone in his position to level up and make the country cleaner and greener. According to a report by the International Energy Agency (IEA), renewable energy is set to be the world’s biggest power source by 2025. Green energy’s robust growth will continue to accelerate into 2021.

The resilience of renewable energy is drawing investors globally. Over 50% of green energy investors find renewable energy projects more attractive due to their stability. Shares of publicly listed renewables equipment manufacturers and developers are currently outperforming other categories on the stock market, and solar companies worldwide have doubled over the past 10 months.

The BEIS Public Attitudes Tracker reported in November that 80% of people in the UK support the use of renewable energy across each development – solar (85%), wave and tidal (79%) offshore wind (77%), onshore wind (73%) and biomass (68%). Millennials are also boosting the demand for renewables and putting pressure on both businesses and governments to action new measures to combat climate change.

These government-backed commitments send out a clear message to British industries, the private sector and green investors to invest in the UK as it begins its journey to net-zero by 2050, reducing emissions whilst creating thousands of jobs.

Are you looking to invest in our new green future? Do you work within the renewables energy sector and want to know what support is available from Wilder Coe?  Get in touch with us here and speak with our renewable energy experts today.

Isabel Yau
Audit Manager at Wilder Coe
Isabel Yau has experience in the preparation of statutory accounts, audit of statutory accounts and preparation of the Corporation Tax returns for companies.