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£350m to fuel green recovery from coronavirus

21 July 2020

By Rail Technology Magazine

£350m to fuel green recovery from coronavirus

​Boris Johnson has today (22ndJuly) announced a multimillion-pound investment for the UK industry to aid cutting down carbon emissions under new plans to ignite efforts to tackle climate change.

The £350m will build on the Prime Minister’s efforts to drive forward progress on the UK’s target to reach net zero by 2050, by helping businesses to decarbonise across the transport sectors, heavy industry, construction and space and to secure the UK’s place at the forefront of green innovation.

The funding influx comes ahead of the PM launching the first meeting of the Jet Zero Council later today, which will bring together government, representatives from the environmental sector and the aviation and aerospace industry.

The package includes £139m to cut emissions in heavy industry by supporting the transition from natural gas to clean hydrogen power, and scaling up carbon capture and storage (CCS) technology which can stop over 90% of emissions being released from industrial plants into the air by storing carbon permanently underground.

A further £149m to drive the use of advanced materials in heavy industry, the 13 initial projects will include proposals to reuse waste ash in the glass and ceramics industry, and the expansion of recyclable steel, and £26m to support advanced new building techniques in order to reduce build costs and carbon emissions in the construction industry.

Prime Minister Boris Johnson said: “We’ve made great strides towards our net zero target over the last year, but it’s more important than ever that we keep up the pace of change to fuel a green, sustainable recovery as we rebuild from the pandemic.

“The UK now has a huge opportunity to cement its place at the vanguard of green innovation, setting an example worldwide while growing the economy and creating new jobs.”

Transport Secretary Grant Shapps said: “Climate change is one of the greatest challenges we face today, and tackling it will require action from everybody. This is why we’re bringing together Government, businesses and investors in a ground breaking new partnership.

“The Jet Zero Council is a huge step forward in making change – as we push forward with innovative technologies such as sustainable fuels and eventually fully electric planes, we will achieve guilt-free flying and boost sustainability for years to come.”

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