The announcements signal how both the Net Zero Review and the IETF will impact the UK’s transition to net zero.
On 2 November 2019, the UK government announced further details on two initiatives focused on helping the UK reach net zero greenhouse gas emissions by 2050. The first of these measures, HM Treasury’s Net Zero Review (Review), will consider how the UK should fund efforts to meet its net zero target. The second measure, the proposed Industrial Energy Transformation Fund (IETF), aims to help energy-intensive industries reduce their carbon emissions. New details surrounding the proposed measures signal how both the Review and the IETF will impact the UK’s transition to net zero.