DWF comments on Boris Johnson's 10-point plan for Net Zero
17 November 2020
Darren Walsh, Head of Power at global legal business, DWF, responds to the Prime Minister's announcement on his 10 Point Plan. He said:
"We are encouraged by Boris Johnson's 10 Point Plan announced [this evening]. Many of our businesses are focused on striving to meet and exceed our net zero carbon commitments by 2050 and sooner; wherever possible. Having a clear strategy focused on the development of the nascent hydrogen market with a clear emphasis on green hydrogen will be key to this. Hydrogen is by no means the panacea to net zero carbon, but it must play a key part in the UK's strategy with a focus on addressing domestic and commercial sources of heating; as well as the transport sector. Businesses must now use this Plan set out by the Government to search out innovative solutions to go green."
On March 6, the U.K. government unveiled its Spring Budget, introducing yet more changes to the pensions landscape. Largely, these reforms are a continuation of the so-called “Productive Finance” initiative, which the Chancellor has been championing since Summer 2023, as well as the drive to improve outcomes for defined contribution ("DC") pension savers through both the value for money framework and the lifetime provider model.