'Powering Up Britain': ABI response
The Government has today published its plan to strengthen Britain’s long-term energy security and independence, ‘Powering Up Britain’ alongside the 2023 Green Finance Strategy.
The insurance and long-term savings sector welcomes the Government’s renewed commitment to transforming the UK economy to reach Net Zero and protect our natural environment. It is right to emphasise speeding up delivery of large-scale energy projects alongside targeted support for technology innovations where the UK can become a world leader. As a sector that offers both investment capacity and risk management expertise, we urge the Government to work closely with our sector to support these projects to be a success. It is important that the Government continues to send strong signals to markets about the growth opportunities it sees in Net Zero technology to enable sustained investment.
"The package of measures the Chancellor has announced in the updated Green Finance Strategy provide a platform through which our sector can deliver on the ambitions set in the ABI’s world leading Climate Change Roadmap. In particular, it is important that the Government remains committed to mandatory publication of Transition Plans and sets out how nature can be incorporated into these plans. The ABI will work with the Government to ensure the range of proposals in this strategy can be implemented effectively and allow consumers to have more options to access green finance innovations.”
Hannah Gurga
Further information: ABI Press Office