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Incentives needed to deliver PM’s green industrial revolution

Wednesday 18 November 2020

PM Boris Johnson has today, 18 November, set out a ten-point plan for a green industrial revolution that will create and support up to 250,000 jobs across Britain and bring new investment to the housing sector including an extension to the Green Homes Grant Scheme.

ARLA Propertymark has long called for greater funding and support for the private rented sector to incentivise landlords to make changes and improve the energy efficiency of property.   

The plan, which is part of the UK Government’s proposal to level up across the country, covers clean energy, transport, nature, and innovative technologies, and is said to mobilise £12 billion of Government investment to create and support up to 250,000 highly-skilled green jobs in the UK, and over three times as much private sector investment by 2030.

Additional funding for the sector

Johnson’s blueprint states one of the key elements in his ten-point plan is to make homes, schools, and hospitals greener, warmer, and more energy-efficient, whilst creating 50,000 jobs by 2030, and a target to install 600,000 heat pumps every year by 2028. To achieve this, he has announced £1 billion of funding next year, an extension to the Green Homes Grant voucher scheme by a year and making public sector buildings greener, and cutting bills for hospitals and schools, as part of the Public Sector Decarbonisation Scheme.

The Prime Minister’s other points, which are built around the UK’s strengths, are:

  • Offshore wind: Producing enough offshore wind to power every home, quadrupling how much we produce to 40GW by 2030, supporting up to 60,000 jobs.
  • Hydrogen: Working with industry aiming to generate 5GW of low carbon hydrogen production capacity by 2030 for industry, transport, power, and homes, and aiming to develop the first town heated entirely by hydrogen by the end of the decade.
  • Nuclear: Advancing nuclear as a clean energy source, across large scale nuclear and developing the next generation of small and advanced reactors, which could support 10,000 jobs.
  • Electric vehicles: Backing our world-leading car manufacturing bases including in the West Midlands, North East, and North Wales to accelerate the transition to electric vehicles, and transforming our national infrastructure to better support electric vehicles.
  • Public transport, cycling and walking: Making cycling and walking more attractive ways to travel and investing in zero-emission public transport of the future.
  • Jet Zero and greener maritime: Supporting difficult-to-decarbonise industries to become greener through research projects for zero-emission planes and ships.
  • Carbon capture: Becoming a world-leader in technology to capture and store harmful emissions away from the atmosphere, with a target to remove 10MT of carbon dioxide by 2030, equivalent to all emissions of the industrial Humber today.
  • Nature: Protecting and restoring our natural environment, planting 30,000 hectares of trees every year, whilst creating and retaining thousands of jobs.
  • Innovation and finance: Developing the cutting-edge technologies needed to reach these new energy ambitions and make the City of London the global centre of green finance.

Read more

Quote Mark

In striving to reduce emissions, it’s absolutely right that we should focus on our homes; the housing stock in this country is among the least energy efficient in the world. However, setting targets for improving energy efficiency will remain meaningless if landlords are not offered opportunities and sustained support to achieve them. It remains to be seen how the UK Government will incentivise people to have their homes retrofitted with heat pumps in order to hit their ambition of installing 600,000 heat pumps every year. Extending the Green Homes Grant is a step in the right direction as this will support homeowners and private landlords who have little access to funding outside of their own income to make energy efficiency improvements to their properties.

Timothy Douglas

Timothy Douglas
Propertymark Policy and Campaigns Manager

The Government has said that these proposals mark the beginning of the UK’s path to net zero, with further plans to reduce emissions whilst creating jobs to follow over the next year in the run up to the international COP26 climate summit in Glasgow next year. 

 

Quote mark

Although this year has taken a very different path to the one we expected, I haven’t lost sight of our ambitious plans to level up across the country. My Ten Point Plan will create, support, and protect hundreds of thousands of green jobs, whilst making strides towards net-zero by 2050.

Our green industrial revolution will be powered by the wind turbines of Scotland and the North East, propelled by the electric vehicles made in the Midlands and advanced by the latest technologies developed in Wales, so we can look ahead to a more prosperous, greener future.

Boris Johnson, Prime Minister