In the coming week, the Government’s clean growth plan will bring ¬together a kaleidoscope of closely ¬inter-related sectors through the prism of economic productivity. And the pattern that emerges will be decidedly green. The plan will have its roots in low-carbon power, but its boughs will extend into the wider economy and the Government’s industrial strategy. The far-reaching ambitions are ¬immediately necessary to avoid falling short of legally-binding pledges enshrined in the 2008 Climate Change Act. But they are also strategic in the long term: by keeping green growth at the heart of an industrial strategy, ministers believe the benefit will ripple across the economy and clear the way for a sustainable future. The aim of the industrial strategy is to rebalance the economy by driving growth in the areas where the UK has potential to become a world-leading exporter of skills and technology. Claire Perry, the Climate Change Minister, was tight-lipped at the Tory party conference about what to expect when the strategy paper is published in the coming weeks. But unlike the industrial strategy of the Seventies, it’s not about picking winners, she says. Instead it will align industries with the power to boost Britain’s flagging earning power. These ¬areas will need to build on government funding and bring in private investment. They will also need to “outlast the vagaries of the political cycle”. She none the less hinted at a potential return for carbon capture and storage (CCS) – technology that fell from favour two years ago as the Government scrapped its £1bn competition for developers able to trap and store the carbon emissions from coal-fired power plants. Those reading the runes of early policy moves believe the Faraday Challenge offers a microcosm of how the Government sees the dynamics of this future economic matrix. The plan commits £246m over the next four years to fund the development of batteries for the electric vehicle market.
Telegraph 7th Oct 2017 read more »