Last week’s Budget saw a range of announcements and initiatives, but has been widely criticised as being out-of-step with the UK’s net-zero carbon transition and insufficient to meet the government’s climate ambitions. See BBC for more.

Key announcements included:

• A new Net-Zero Innovation Portfolio, which will provide £1bn funding for low-carbon technologies and systems. Funding will be allocated on a competitive basis to sectors including long-duration energy storage; floating offshore wind; biomass and regenerative agriculture.
• Fuel duty was frozen for a 12^thconsecutive year
• No mention of electric vehicle infrastructure plan or the Green Homes Grant energy efficiency scheme
• National Infrastructure Bank update – further details of government support provided through the Bank, but few details on its environmental and social sustainability requirements.
• Bank of England given green remit to aid net zero carbon goal – covered in the Guardian
• Eight freeports – low tax, low regulation sites which could support sectors like renewable energy generation
• Carbon markets working group – but little detail or information on membership
• Sustainable retail finance – a new support scheme to help retail investors develop green savings bonds.
• Support for offshore wind and hydrogen – offshore wind port hubs in Humberside and Teesside, and a hydrogen hub in Holyhead
• Aggregates Levy and Carbon Price Support rates frozen – a short-term approach that wont help provide stability or clarity
• Air Passenger Duty to rise to allow for inflation, but no mention aviation sector’s climate impact

Read reaction from green leaders on the edie website here.

Critics say climate emergency only a “footnote” in latest UK budget

Labour leader Sir Keir Starmer said the budget stopped “way short” of what was needed, while Fatima Ibrahim of Green New Deal UK said: “Our response to the climate crisis should have been front and centre of the Budget, not a footnote.”

Water UK welcomed proposals for the National Infrastructure Bank and the extension to the funding for apprentices.