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The UK’s netzero transition depends on huge amounts of private capital that can only be unlocked through climate policy certainty. trillion (US$1.89 But here, too, progress has stuttered.
Collectively, mainland Europe and the UK is targeting netzero by 2050 – an objective set out as part of the European Green Deal by the European Commission – and realising this target will require significant investments in clean energy year on year.
The government is putting together a comprehensive investment plan (CIP) to fund its net-zero aim. For the power sector alone, state utility Perusahaan Listrik Negara has repeatedly stated a need for at least US$500 billion to reach its net-zero goal by 2060, far surpassing the state budget’s funding capacity.
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