Government should create a roadmap, by Autumn 2023, which details decision points for developing and deploying R&D and technologies that are critical for enabling the net zero pathway to 2050. |
1032. Greater clarity is needed on the long-term direction of net zero R&D and technology.
Stakeholders across industry and academia were clear that for the UK to have technology which meet net zero ambitions, there must be a clear understanding of the R&D and technological developments that must occur between now and 2050, and the factors which will impact these. The British Private Equity and Venture Capital Association and Royal Society, for example, advised that there must be a clear overarching roadmap that outlines the key decisions that need to be made for the development and deployment of net zero R&D and technologies leading up to 2050. The Review supports this call. Based on the evidence provided, this roadmap should include all net zero sectors, including for example aviation and maritime for which suitable zero emission technologies still need to be defined (see Pillar 3).
This overarching net zero R&D and technology roadmap should include decision points for all relevant net zero technologies in their varying stages of development and the R&D to enable them; from those which are already mature, to those in very early stages of development. The decision points in the roadmap must be clear and transparent to give confidence in the market prospects of these technologies to innovators and investors.
1033. The BEIS Net Zero Research Innovation Framework and Net Zero Strategy goes some way to provide this detail, looking ahead to the next 5-10 years. However, some stakeholders felt that neither of these provide decision points for critical R&D fundamental to developing relevant net zero technologies, nor do they "provide a clear enough direction of travel to industry" (Royal Society - written evidence provided to the Review).731 The British Private Equity and Venture Capital Association told us:
"The UK Government needs to develop a detailed Net Zero Roadmap, setting out clear commitments and actions on public investment and policy covering how it is going to get the UK to Net Zero. This will catalyse investment into the areas that will be crucial to achieving Net Zero as it gives investors, including PE [Private Equity] and VC [Venture Capital], clarity on the industries the UK will support" - British Private Equity and Venture Capital Association732
1034. Stakeholders recommended a roadmap working backwards from 2050 to determine the critical points at which decisions must be made for the development and deployment of these technologies (and relevant R&D). They also echoed the sentiments of the Council for Science and Technology's 2020 Achieving net zero through a whole systems approach letter to the Prime Minister, advising that any such roadmap must take a whole systems approach to determine the dependencies and factors that enable these developments. For example, IDRIC advised that timelines for planning and consenting, legislative timetables, upgrades to new and existing infrastructure, incentives, and resources required were all vital for informing decisions. The Royal Society told us:
"Working together, through an agreed roadmap, academics with businesses and consumers can have the confidence in the direction of travel to a long term and predictable goal"733
1035. To gain buy-in from sectoral leads and deliver the certainty needed, the roadmap must be informed by those it is relevant to. Stakeholders including members of the Council for Science and Technology and Royal Society advised that a range of relevant stakeholders from across sectors, including but not limited to those in academia, government, finance, and industry should be consulted to inform this work. These stakeholders can then lead on developing solutions to meet the roadmap's decision points.
1036. This Review recommends that, by Autumn 2023, a roadmap must be created which details decision points for developing and deploying R&D and technologies that are critical for enabling the net zero pathway to 2050. This must:
• Set out the Government's expected pathway to net zero from now to 2050.
• Set out the overarching key decision points a) for all technologies that must be developed and deployed which will enable this pathway, and b) the R&D to enable these technological developments.
• Incorporate a whole systems approach. The roadmap must be informed and taken forward by a cross-sectoral range of relevant stakeholders and consider interdependencies such as timelines for planning and consenting, legislative timetables, infrastructural requirements, public and private financing, and business model improvements.