Following today's release of the Energy White Paper, UKPIA calls
for a strong commitment from government to work with industry to
develop energy policies that support economic recovery from the
impacts of COVID-19 while laying the important foundations for a
just transition to Net-Zero.
It is encouraging to see that the downstream oil sector is
referenced in the Paper as continuing to play a
vital role in the transition to the net-zero economy.
UKPIA and its members will continue to work with government
to develop the policies needed to stimulate investment in the
sector to support jobs now and in the long term and ensuring
secure fuel supplies during the energy transition.
UKPIA’s members are already playing a significant role in
achieving societal targets for decarbonisation with increased
biofuel blends in petrol and diesel fuel and a widespread rollout
of chargers for EVs, as well as embarking on projects to
decarbonise industrial sites through the application of carbon
capture and hydrogen technologies.
In October, UKPIA launched its report titled “Transition,
Transformation, and Innovation: Our role in the Net-Zero
Challenge” which looked at credible scenarios and an illustrative
pathway for the UK downstream sector to achieve Net-Zero, which
was also referenced in today’s Energy White Paper.
UKPIA Director-General, Stephen Marcos Jones,
said:
“UKPIA has called for a collaborative approach to policy
development that we hope today’s Energy White Paper will bring.
It is absolutely vital - as a vaccine is rolled out and the UK
can begin its recovery from COVID-19 - that industry and the UK
Government work together to put in place the energy policies we
need to stimulate investment for the recovery now and to meet
long term targets.
"UKPIA and our members know that a range of technologies
will be needed into the 2030s and beyond, and we will keep
working with government on policies that allow the industry to
decarbonise and importantly make the UK a global leader in
Net-Zero technologies, such as CCUS and hydrogen.”
