Net Zero and the UK Election

27 Jun

The Future Is Not Set

As the UK General Election on July 4th draws near, so too do decisions on the future of the UK’s Net Zero Strategy.

Following its proposal by Boris Johnson in October 2021, the Government's plan to eliminate carbon emissions by 2050 has been the subject of scrutiny and legal action.[1] [2]

Since then, ideas on how to achieve or redefine the nation’s climate goals have become a key part of the major parties’ election strategies. To understand the key talking points, we take a closer look at the Conservative, Labour and Liberal Democrat parties’ positions, and what this means for the future of net zero.

The Conservative Party’s Stance

As the incumbent party, the Conservatives remain committed to their proposed net zero target of 2050, but have emphasised the need to take an ‘affordable and pragmatic’ approach. In their view, this means protecting households and businesses from the rising costs associated with fighting climate change.

In addition to preventing rising costs, their manifesto focuses on leveraging technical innovation and investment in carbon capture technology, aiming to retrofit gas power stations and decarbonise the electricity grid by 2035.[3]

What the Labour Party Has to Say

The Opposition have also reaffirmed the 2050 target, but have called for more immediate action. They have outlined plans to accelerate current initiatives with the intent of providing zero carbon electricity by 2030.

Labour believe that this can be achieved through substantial investment in wind and solar, and by supporting households in retrofitting homes to improve energy efficiency. They also plan to mandate UK regulated financial institutions to implement credible net zero transition plans, with the stated goal of shaping the UK into a ‘global green finance leader’.[4]

The Liberal Democrat’s Perspective

The Liberal Democrats have called for bold and urgent action and have committed to bring forward the net zero target to 2045.

With a focus on renewables and rooftop solar, the Liberal Democrats plan to deliver ‘90% renewable UK electricity by 2030’. The party also intends to increase international development spending to 0.7% of national income, with a key focus of this being tackling climate change.[5]

Going To the Crossroads

The 2024 election presents a critical juncture for the UK’s net zero ambitions. All parties have reaffirmed a need for action and a focus on renewables, and see the household as a key player in working toward net zero targets.

The Conservative Party’s stated aim of protecting households and businesses is in sharp contrast with Labour’s focus on acceleration and financial mandates, while the Liberal Democrats emphasise foreign policy and international development to deliver their proposals.

When it comes to the ballot box, voters will need to consider each parties’ proposals in terms of economic implications, long term environmental sustainability, and both domestic and international economic investment impact.

The Hard Yards Are Still Ahead

Whatever the outcome, the next government will face a difficult challenge in meeting it’s climate commitments in tandem with its economic and social policy pledges. As the election draws closer, the debate over how best to face these challenges and achieve net zero continues to intensify, reflecting growing anxieties as to the climate crisis and the country’s future.