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Businesses are losing faith in government support
The UK Government’s current trend for rowing back on environmental policy and regulation is causing plenty of uncertainty across business. 29% of survey respondents believe political instability to be the biggest challenge facing their work in corporate sustainability right now – more than said escalating climate change (21%) or the cost-of-living crisis (26%). Such instability is making it harder to get buy-in for internal investments in specific low-carbon projects as many companies are fearful about further U-turns on environmental policy in the near future.
As a result of current attitudes towards government ambition, 70% of respondents say they do not think the UK’s net-zero target will be achieved by 2050. To stand any chance, 50% of respondents said that stopping all new oil and gas developments should be a top priority for the UK.
Q. Do you believe the UK’s Government’s national net-zero emission’s target will be achieved by 2050?
Respondents were not clear in choosing a standout priority for the Government to focus its attention on in the next 12 months. Most opted for an ‘all of the above’ approach in their responses, pointing to everything from offering support for energy efficiency and boosting electric vehicle charging infrastructure to funding net-zero innovation and investing in skills for a greener economy. This suggests companies want a mixture of solutions, or that people do not fully trust the Government to effectively support any one particular policy support package.
Q. Which of the following areas of UK energy and climate policy would you like to see given the highest priority over the next 12 months? Please SELECT UP TO THREE policy areas.
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