Opportunities
- Lower costs
- Increase efficiency
- Improved reputation
- New business opportunities
- Business resilience
- First-mover advantages
- Meet legal obligations
Risks
- Damages to assets, Supply chain disruption, Resource shortages
- Effects of transition – Business costs could increase with asset value being affected and existing products and services being disrupted by the effects of technology, market and regulation.
What requirements are likely to impact my business?
- Prospective suppliers (businesses) bidding for contracts above £5million a year will need to have committed to the government’s target of net zero by 2050 and published a carbon reduction plan by 2050.
- All homes will have to be highly efficient with low carbon heating and be zero carbon ready by 2025.
- The UK government has agreed on a deal with the oil and gas industry to transition to clean, green energy.
- From 31 March, financial support will also no longer be provided for the fossil fuel energy sector overseas.
- There will be ban on combustion engine sales by 2030, grants for electric cars and funding for charge points and sales of some hybrid cars and vans will continue until 2035.
- From 25 October 2021, the Ultra Low Emission Zone (ULEZ) is expanding from central London up to (but not including) the North Circular and South Circular roads. Vehicles which do not meet the tight emission standards must pay the daily charge. The ULEZ is in effect 24 hours a day, 7 days a week, all year round (except Christmas Day).
- Heavier vehicles including vans, lorries, coaches, buses will need to meet the LEZ standards instead of the ULEZ.
Find out more.
- Driving into central London will incur the congestion charge regardless of whether you meet the ULEZ standards. After 25 October, most hybrid vehicles will no longer be eligible for the Cleaner Vehicle Discount.
Find out more.
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