ENA champions private investment in new net-zero campaign

The Energy Networks Association (ENA) has launched a campaign setting out the role investment from grid operators has to play in helping the UK reach its net zero 2050 target.

The Securing a Green Future campaign, which the ENA says is backed by all of Britain’s energy network companies, will highlight how the country can use private investment to reach the goal as quickly as possible.

ENA hopes the campaign will inform the public debate on the challenges and opportunities that lie ahead. It is predicted the UK economy will need to spend between 1-2 per cent of its total wealth annually to reach net zero by 2050.

It is also warning how plans being proposed by the Labour Party to nationalise certain industries should it win power in next month’s election will put the target at risk.

The campaign will argue that the investment Britain needs to reach net zero must:

• Be delivered in a way that provides access to clean, affordable and reliable energy for all
• Develop new smart skills today to create the green collar jobs of tomorrow, in communities, towns and cities across the country
• Manage risk efficiently, improve the performance of our infrastructure and drive value for money – whilst being accountable to the public
• Focus on using innovation to take an approach that is as much local as it is national, and to ensure that all in our society are able to benefit from a just transition

David Smith, chief executive of ENA, said: “The Securing A Greener Future campaign aims to demonstrate not only how the industry is already delivering new infrastructure and technologies today to reach the net zero target as quickly as possible, but also how our world leading system is the best possible way to reach that target tomorrow.

“Britain is a superpower of renewable energy – we should build on that to reach net zero as quickly as possible.”