Yesterday (17th July) saw the delivery of the King's Speech in the UK, which set out the new Labour Government’s plans for the environment over the course of this parliament, following Labour's win in the General Election held at the beginning of this month. Delivered annually by the reigning monarch, The King's Speech is used to outline new laws that the government aims to introduce, with yesterday’s speech containing 40 new bills.
Amongst these were several pieces of legislation which will steer a new course for the nations environmental policies. In his opening words King Charles stated that "My government's legislative programme will be mission led and based upon the principles of security, fairness and opportunity for all," adding that, "securing economic growth will be a fundamental mission”[i].
At the heart of the Labour Government’s plans are proposals for planning reform, as well as a raft of bills which are designed to boost investment in the green economy. The government is set to reintroduce mandatory housebuilding targets, aiming for 1.5 million homes to be built in the next 5 years, alongside widespread planning reform. However, the Labour Government will face concerns around how it can maintain its commitments to preserve remaining greenbelt land made during the election campaign. At the time the party suggested freeing up underused ‘grey’ land such as vacant car parks and wasteland.
The King's Speech also included a pledge to introduce ‘Great British Energy’. Headquartered in a yet to be announced location in Scotland, GB Energy will be a publicly owned clean power company which the government hopes will accelerate investment in renewable energy projects, such as offshore wind. In his speech, the King said: "My government recognises the urgency of the global climate challenge and the new job opportunities that can come from leading the development of the technologies of the future.”, he added: "It is committed to a clean energy transition which will lower energy bills for consumers over time."[ii]
The new UK Government is committed to doubling onshore wind and quadrupling offshore wind by 2030, as a cornerstone of its goal to fully decarbonise electricity by 2030. That translates to increasing onshore wind from 15 to 30 GW, and offshore wind from 15 to 60 GW. In addition, the government confirmed the launch of a new National Wealth Fund (NWF). Chaired by the Green Finance Institute, the NWF will provide strategic investment to fast-growing sectors. Its initial £7.3 billion remit will be split between electric vehicle battery manufacturing, low-carbon ports, low-carbon steelmaking, carbon capture and renewable hydrogen production. It is hoped that this will generate in excess of £21 billion of private investment.
Dr Rhian-Mari Thomas, CEO of the Green Finance Institute and Chair of the National Wealth Fund Taskforce said: “Setting out the National Wealth Fund as a key priority demonstrates the Government’s determination to reshape the way we approach public, private risk-sharing, providing private investors with the confidence needed to invest in technologies and infrastructure that will drive growth and create jobs”[iii].
Trevor Hutchings, Chief Executive Officer of the REA (Association for Renewable Energy and Clean Technology), said: “We await to see the finer details behind these proposals, as well as some areas that the King’s Speech did not cover. For example, the growing need to address electric vehicle charging infrastructure, and measures to promote the circular bioeconomy.”[iv]
Friends of the Earth’s climate coordinator, Jamie Peters, was hopeful given proposed changes to the UK’s “outdated energy system”, as well as plans to “harness the clean jobs and global leadership opportunities of the transition to a zero-carbon economy.”[v] However, Peters did add that: “There are still areas we need to see the new government going much further and faster on – namely nature. It's great that it plans to take tougher action against polluting water companies, but the government must enshrine the right to a healthy environment in law so that communities blighted by pollution can enjoy cleaner, healthier local areas.”[vi]
Lastly, Tom Clougherty, Executive Director of the free market think tank, the Institute of Economic Affairs (IEA) said: "The King’s Speech promises several welcome measures to get Britain building and growing again, particularly measures to enable more infrastructure and housing. The biggest handbrake on growth is undoubtedly our broken planning system.” He added: “We must not be starry-eyed about the rhetoric on growth when much of the agenda pushes in the opposite direction. Pro-growth measures risk being held back by new red tape and risky ‘mission-led’ central planning. The ban on new North Sea oil and gas will continue to hamstring Britain’s recovery from the energy crisis.”[vii]
[i] The King's Speech 2024 - GOV.UK (www.gov.uk)
[ii] Ibid
[iv] Ibid
[v] King's Speech - Friends of the Earth reaction | Friends of the Earth
[vi] Ibid
[vii] King's Speech: King Charles delivers speech in parliament as Labour unveil plans - Mirror Online
Lauren has extensive experience as an analyst and market researcher in the digital technology and travel sectors. She has a background in researching and forecasting emerging technologies, with a particular passion for the Videogames and eSports industries. She joined the Critical Information Group as Head of Reports and Market Research at GRC World Forums, and leads the content and data research team at the Zero Carbon Academy. “What drew me to the academy is the opportunity to add content and commentary around sustainability across a wealth of industries and sectors.”
