Budget 2021: How Rishi Sunak plans on delivering a green industrial revolution portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
SHARE
From developing offshore wind projects to boosting biomass energy crops, unveiling sovereign environment-friendly bonds and an online delivery tax, British finance minister Rishi Sunak will embark on a green agenda in his budget on Wednesday.
Expected climate change initiatives include the funding of three green programmes through the government’s £1 billion ($1.39bn) Net Zero Innovation Portfolio, with a £70 million competition to develop long-duration energy storage prototypes.
There will also be £20m to develop offshore wind demonstration projects to support the government s bid to generate enough electricity from offshore wind to power every home by 2030 and a further £4m to fund a biomass feed stocks programme to identify ways to increase production of green energy crops and forest products in a decarbonisation boost.
Chancellor Rishi Sunak has confirmed that he will launch green savings bonds at the Budget on Wednesday. There are also media reports of a £1bn portfolio to support innovations that will accelerate the UK s net-zero transition.
Net Zero Nature brings together global experts, business leaders, NGO’s and innovators to explore why protecting and restoring nature is fundamental to global economic prosperity, investigate the transformative changes businesses must make now to avoid extinction, and consider best practices and latest developments.
Register now to secure your place for a unique day of learning, leadership and practical insight.
Date: 27 May 2021
The much-anticipated Energy White Paper was published by the Department for Business, Energy and Industrial Strategy (
BEIS ) on 14 December 2020, setting out its strategy for the UK s energy transition over the next decade. The Energy White Paper focuses on strategy in six key areas: consumers, power, the energy system, buildings, industrial energy and oil & gas.
Much of what has been set out in the Energy White Paper is not new. For one, the Energy White Paper builds on the UK government s Ten Point Plan for a Green Industrial Revolution (the
Ten Point Plan ). However, committing this strategy to a White Paper brings the proposals set out by BEIS one step closer to future legislation.