Castlefield and investor coalition deliver letter to government urging clearer Net Zero plan

By Nathan Cameron

Castlefield, together with a coalition of investors and private sector firms, has delivered a joint letter to the Chancellor of the Exchequer, urging the Government to set out a clear ‘Net Zero Investment Plan’ as part of the UK’s upcoming ‘Green Finance Strategy'.

The letter, led by independent climate change group e3g, demonstrates collective support from a number of private sector businesses and investor organisations. Amid the ongoing global energy crisis, it comes at a crucial time, and highlights the need to accelerate investment into green technologies and climate solutions.

Research included within the letter indicates that by accelerating investment into green technologies and climate solutions, low-carbon technologies could reduce the average domestic energy bill by £1,800 a year and catalyse economic growth.

Alongside Chancellor of the Exchequer, Kwasi Kwarteng, a number of other relevant MPs also received a copy, including Jacob Rees-Mogg (Secretary of State for the Department of Business Energy and Industrial Strategy), Graham Stuart MP (Minister for Climate), Andrew Griffith MP (Financial Secretary to the Treasury and City Minister) and Chair of the Net Zero Review, Chris Skidmore.

The Green Finance Strategy is due to be published later this year.

Castlefield's Ita McMahon said: "Corporate interest in net zero is at an all-time high. The proposed Net Zero Investment Plan will give business leaders the confidence to invest in the green technologies and set ambitious net zero goals.

"A targeted, low-carbon investment programme, backed by a strong policy framework, has potential to deliver lower energy bills and increased energy security, as well as stimulating economic growth.”

To view a copy of the joint letter please click here.