'Financial incentives' needed to hit net zero goals
This comes as The Independent Net Zero Review, published by the Rt Hon Chris Skidmore MP on Friday 13 January, set out 129 recommendations designed to “maximise economic investment, opportunities and jobs” on the path to net zero by 2050.
BBPA chief executive Emma McClarkin said: “The independent Net Zero Review highlighted key areas where action is required on net zero.
“The review broadly aligns with the view and steps taken to date by the pub and brewing sector who are determined to play their part in making Britain a world leader for environmental sustainability and are already innovating within their businesses to become greener.
Financial incentives
“It is evident the sector needs additional financial incentives from Government to aid its transition to net zero, and we would the urge the Government to be mindful of placing any more complex regulatory frameworks upon businesses which will hinder their ability to flexibly deliver on net-zero ambitions.”
The proposals in the report included reviewing incentives for investment in decarbonisation, the launch of a Help to Grow Green campaign offering information and advice to small businesses and a reformation to the planning system to put net zero at its heart “nationally and locally”.
Additionally, the report also detailed the development of cross-sectoral infrastructure strategy by 2025 to support the building and adaptation for new green energy sources, such as hydrogen, to support the green economy.
Skidmore claimed the race to net zero was, as well as being environmentally “essential”, able to put the country at an economic advantage globally.
Key priority
The former energy minster also urged Government to “make the most of this historic opportunity” to make sure people in every part of the country reap the benefits.
UKHospitality (UKH) chief executive Kate Nicholls said: “The transition to net zero is a key priority for hospitality businesses. UKHospitality supports venues with its sustainability guide, and it is encouraging to see such a strong theme of backing business running through this review.
“In our submission to the review, we called for more financial incentives to support hospitality’s transition to net zero, particularly given its vulnerability to high energy prices, which the report noted.
“I’m pleased the review has taken up these asks and recommended incentivising decarbonisation through the tax system and capital allowances.
“This would be beneficial for businesses who will be struggling with cash flow, particularly as energy support significantly reduces from April and inflation continues to bite.”
