Increased urgency around implementation, notable gaps in UK energy infrastructure and a context of greater international competition for capital and supply chains are focusing attention on securing investment for the ‘net zero’ transition.
This is not only about confidence for the ecosystem of investors, but also investment confidence for policymakers and the public that plans are in place and are going to deliver and on a basis that is seen as fair.
This working paper provides a desk-based review of six departments and bodies looking at ‘who does what’, highlighting both observations and questions arising.
The focus is not on volumes of capital per se, rather where existing or new policy models assume private investment will arise, how confident are we that conditions are in place and working successfully, not least as multiple intersecting elements of the ‘build phase’ of the energy transition are in play.
On the government side, compared to an earlier short mapping exercise:
However, gaps remain, including:
As the CCC downgrades renewables progress and calls for an overarching plan for decarbonising the power sector, we need to ensure there are the right tools for the job alongside the necessary leadership.