Net Zero Council meets for the first time

The government has held the first Net Zero Council to support industry to cut their emissions and develop greener practices.

The meeting was chaired by energy minister Graham Stuart and Coop Group chief executive Shirine Khoury-Haq. Attendees included banks, energy companies, technology giants and finance firms.

The council discussed the importance of building one coherent voice across government, finance and business to support the UK’s key sectors in the net zero transition and construction, manufacturing, retail and water and waste were identified as priority sectors to support and focus on.

The group has three key objectives: working to ensure sectors and companies have a pathway to net zero, including looking at the barriers and connections across sectors; leading a systematic review of the financing challenges and the respective roles of government, industry and the financial sector in addressing them; and identifying key challenges facing SMEs up and down the country in reducing their carbon footprints and supporting their transition with new information and advice.

The group will meet on a quarterly basis.

Energy Minister Graham Stuart said: "The Net Zero Council provides the high-level forum for government, business and finance leaders to work together to unlock the opportunities of the green transition.

"Tackling emissions can make businesses more energy efficient, improve UK energy security and, in turn, cut costs. It can open up opportunities to export UK developed solutions around the world, expand UK market share and create jobs.

"The UK has cut its emissions more than any other major economy and the Net Zero Council – meeting today for the first time – will ensure that leaders of UK businesses can help guide government and vice versa so that our environmental leadership translates into economic advantage.

"The Net Zero Council includes some of the most senior business and finance leaders in the country. I am grateful that such extraordinary people are prepared to contribute their knowledge, experience and talent for the benefit of both this country and future generations.

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