A number of BEAMA's member companies have made a commitment to reduce their emissions to net zero by 2050.
The commitment was unveiled at an event at One Great George Street today (10 September) marking the launch of a new report by BEAMA, the trade body for manufacturers and providers of energy infrastructure technologies and systems.
The Net Zero By Design report and an accompanying joint letter from pledge signatories warn that setting the net zero target in legislation alone will not be enough to achieve net zero. The report suggests that investment in the low carbon sector to date has been impeded by the lack of stable and effective regulation, and national leadership is urgently needed to drive the rapid deployment of these technologies which will be crucial if the UK is to meet its international climate change commitments.
The report contains a list of policy recommendations on how the government can spearhead growth in the electricity market and make the UK a world leader in new technology markets for smart flexible electrical systems - including more clarity about the future direction of regulation, reform of building regulations, a carbon price for heat, and reduced VAT for low carbon technologies.
The BEAMA report aligns closely with recommendations from the Committee on Climate Change, which published its own Net Zero paper arguing that while the technology is primed and ready to make this 2050 target feasible, it will only be reached through strong leadership from the Government.
Dr Howard Porter, CEO of BEAMA, said: "This is a cross party, cross industry, global coordination challenge at an unprecedented level - current markets for renewables and certain low carbon technologies essential for the energy transition, including storage, are struggling to gain the levels of investment needed to radically decarbonise our UK electricity infrastructure, buildings and transport system. This is a great opportunity to be grasped by UK Government and drive growth in the UK market."
BEAMA's head of networks Anthony Bivens added: "Looking closely at the scale of the challenge in largely electrifying the UK heating and transport system, BEAMA has mapped some of the critical pinch points on the trajectory to 2050 in line with the current regulatory timetable and how new mechanisms can be introduced to enable the changes necessary and ensure the transition to net zero is commercially viable for UK businesses and consumers.
"Technology is a key enabler for our low carbon future, and there is great potential for the UK to be a leader in innovation and new technology markets for smart flexible energy systems. As the first major economy in the world to set this target in law, there is a need to harness the opportunity for growth in the UK economy.
"However, the current investment landscape for the sector is wavering at a time when industry should be building for a dramatic increase in the deployment of low carbon technologies. The report highlights the limitations today for inward investment and export, and how industry and Government can tackle this together and reduce risk for businesses in the UK looking to invest in green, low carbon technologies."
The Net-Zero by Design report sits alongside the BEAMA Electrification by Design series - a comprehensive look at the challenges facing the UK in the electrification of heat, transport and the market design imperatives to decarbonize through electrification. First published in 2018 the Electrification by Design Series introduced many of the principles of market design and energy system transition that BEAMA raise in this report and the transition to net zero by 2050.