Net zero uncertainty risks jobs and investment, business leaders warn

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Labour has already pledged to restore the 2030 petrol and diesel car ban and energy efficiency requirements on landlords, leaving firms guessing on the UK's climate policy until the next election.

“In the meantime though, with the US incentivising and attracting huge sums of net zero investments, the PM’s U-turns will likely put off or delay projects that would have created jobs. The PM has prioritised politics over the economy.Ed Matthews, head of campaigns at E3G climate think tank: “Absolutely unquestionably, we’re going to be in a period of investor instability over the next year.

“I think for the car industry, they know that it’s highly likely that this target could be reinstated in a year’s time. “These companies have a choice about where to invest, and we’re locked in a race to Zero with the US, China and Europe.“So the decision to delay the 2030 ban will just undermine the confidence of investors further that the UK is a serious place to invest in green technology.Defending the measures on Thursday Rishi Sunak told the BBC

Mr Sunak continued: “We are absolutely not slowing down efforts to combat climate change. I am very proud of our country’s leadership. We have decarbonised faster than any other major economy in the G7, not a fact you hear reported that often.”Delaying the ban on the sale of new petrol and diesel cars to 2035: Labour would reverse this decision and bring the ban back to 2030

 

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