UK Transition to a Low-Carbon Future
2021 Budget

The March 2021 Budget announcements included several welcome initiatives to support the UK’s transition to a low-carbon future.

Eco2 is particularly happy to see the inclusion of a Biomass Feedstocks Programme in the Net Zero Innovation Fund. This programme will look at ways to increase the production of sustainable green energy crops. As the UK’s leader in biomass fuel procurement, Eco2 is looking forward to the possibilities this research could bring to the biomass industry.

Private investment is key to the low-carbon transition, and so we welcome the initiatives to support private investment in green industries, particularly through capitalisation of the National Infrastructure Bank. This is expected to support at least £40bn of investment in ‘green’ infrastructure projects. We wait to see exactly how much of this investment will be dedicated directly to renewable energy and other decarbonisation projects.

We are also eager to see what comes of the new green savings bonds aimed at retail investors. A large consumer savings glut has built up during the pandemic, and these green bonds may help put that money to good use in the renewable energy sector.

We look forward to seeing more details of these policies.