Government sets out £1bn plan to cut industrial carbon emissions

A blueprint to cut industrial carbon emissions by two-thirds within 15 years has been announced by the government.

It wants firms to waste less energy, develop low-carbon technologies and invest in equipment that can store carbon emissions in rocks underground.

It’s set out details of a previously-announced £1bn fund to help industrial buildings, schools and hospitals get better insulation and conserve energy.

Opposition parties said the policy lacked urgency and ambition.

However, the clarity of the strategy has been welcomed by industry groups. They say it will help to guide investment choices.

The CBI said it was a vital step in the UK’s commitment to cutting out almost all carbon emissions by 2050.

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