The CEA ‘s (Construction Equipment Association) hopes for the forthcoming Budget

The UK Government has published its Net Zero Strategy, outlining the country’s plan for lowering carbon emissions and meeting the climate targets set out in the Paris Agreement.

Said to build on the Prime Minister’s Ten Point Plan for a Green Industrial Revolution – which was published in November of 2020 – the Net Zero Strategy sets out “how the UK will secure 440,000 well-paid jobs and unlock £90 billion in investment by 2030” on its path to meeting the 2050 emission targets.

The plan aims to ensure the country’s “biggest polluters pay the most for the transition” and deliver “deep cost reductions in low carbon tech” for businesses.

What does the Net Zero Strategy mean for construction sector companies?

Suneeta Johal, CEO of The Construction Equipment Association said, “With COP26 fast approaching we are anticipating the Chancellor to make some announcements about the government’s promise of achieving net-zero emissions by 2050.

“As it currently stands, construction equipment doesn’t feature in the government’s carbon budget until around 2035, so we are hoping there will be changes in that respect once the detail is published.”

“For businesses, any financial assistance or tax incentives that could attract owners and contractors in the update of battery or hydrogen-powered machinery could help increase its uptake.

“This could provide a welcome boost for those supplying, or thinking of supplying, machinery of this type. The electrification of the car fleet is a great start, but we would like to see an accelerated plan for our sector too.”

Johal, who recently issued an open letter to CEA members calling on them to speak out about the challenges they face in meeting emissions targets, said, “The government’s recent commitment to investing in infrastructure to the sum of £650 billion of public and private investment over the next 10-years is encouraging and a step in the right direction.

“We will be very interested in the government’s plans to develop and deliver the nation’s infrastructure and our sector’s involvement.

“Our industry is fully on board with the new approach to environmental accountability and to sustainable infrastructure, and we are looking forward to the anticipated opportunities the forthcoming autumn statement should bring.”

Publication of the Net Zero Strategy: Build Back Greener whitepaper, which will be submitted to the United Nations Framework Convention on Climate Change (UNFCCC), comes as the UK Government also introduces its new Boiler Upgrade Scheme as part of its heat and buildings strategy to decarbonise homes and announces the securing of billions of pounds in foreign investment.

Source: CEA (Construction Equipment Association) Press