Britain must tap into its full potential as a net zero superpower - Beckie Hart

Firms across Yorkshire and the Humber know how important it is that we seize our opportunities for green growth having been at the forefront of many of the developments so far.

CBI research has shown that in the last two years the UK has lost market share in green tech –equivalent to the potential value of £4.3bn by 2030 and we know that businesses up and down the UK are keen to take steps to make up that lost ground.

The Government’s announcements laid some of the groundwork necessary to capture some of those economic opportunities. There were welcome steps on energy security and generation, increasingly vital after Russia’s invasion of Ukraine.

The Government confirmed targets for clean power generation, as well as the imminent publication of the widely anticipated Energy Bill.

This will reassure many firms who have been faced with significant uncertainty in the energy market.

The outlined strategy also addressed one of the major roadblocks in the way of growth: planning processes. Firms welcomed the publication of National Policy Statements.

It’s an important step in the right direction for firms keen to invest in our

green economy - many of whom have been stopped in their tracks due to complex planning rules.

Next, firms will be looking for more clarity on timelines and regulatory criteria. This will further boost confidence to invest in UK plc, and speed up the delivery of major projects.

We also heard more about the Government’s plans for carbon capture, utilisation and storage – or ‘CCUS’ in short.

An emerging industry which seeks to capture the harmful carbon created by some energy generation and storing that underground, rather than pumping it into the air.

Whilst the selection of successful projects means we’re edging closer to the delivery of these crucial measures, I, like many others, was hugely disappointed not to see any Humber projects in the mix. Knowing how strategically important the Humber Cluster is, this was a significant missed opportunity.

CCUS will be key to the UK’s successful journey to net zero – helping to create thousands of green jobs and it’s therefore essential that the Government provides clarity on the path ahead for bids that missed out this time.

Business and policymakers must work in lockstep to avoid the significant effort and investment put into these projects going to waste.

Firms will now pore over the details of the announced strategy.

We’ve got plenty to chew on, whether that’s on energy security or the road ahead on planning as it is vital we can keep up with our international competitors when it comes to green investment.

Beckie Hart is the regional director, for Yorkshire & Humber, at the CBI