Sector Transition Plans to launch at ISEP/Broadway Initiative event to accelerate action across UK economy

The launch marks the publication of Sector Transition Plan guidance, developed by the Net Zero Council with the support of the Transition Finance Council (TFC). The guidance provides a blueprint for each major sector of the economy to co-create a shared vision and pathway to net zero, supported by finance and policy frameworks.

The event will also confirm three further developments:

• A new collaboration agreement between the Net Zero Council and the Transition Finance Council to align financial and sectoral planning;
• Co-investment by Government in the UK Business Climate Hub, expanding its role as the central platform for developing, hosting and maintaining STPs across the economy; and
• A new programme to ensure that small and medium-sized enterprises (SMEs) can easily access tailored support to decarbonise, cut costs and capture clean growth opportunities.

A shared endeavour between Government, business and finance

The Rt Hon Ed Miliband MP, Secretary of State for Energy Security and Net Zero, will deliver the keynote address.  Commenting on the launch of the Sector Transition Plans, the Energy Secretary said:

"Government, businesses and civil society all recognise that clean energy is the economic opportunity of the 21st century. It is the route to energy security, good jobs and tackling the climate crisis.

"We welcome this guidance which will help businesses and investors identify what needs to be done, where investment is needed and how we can work together to make the British people better off through homegrown, clean power."

Supporting a just, skills-led transition

The Institute of Sustainability & Environmental Professionals (ISEP), representing practitioners across the global economy, will play a leading role in embedding the skills needed to deliver the transition.

Sarah Mukherjee, ISEP CEO, said Sector Transition Plans will ensure the UK is taking a coordinated, whole economy approach to the challenge of achieving net zero.

“We need to focus on capacity building throughout the workforce in every sector, so we have the skills to drive the net zero transition across the whole economy.

“Whilst this will require more expert professionals with specialist skills, our ambition should be to weave green competences throughout the workforce and make ‘all jobs greener’ – much in the way digital skills spread across entire organisations in previous decades.

“Moreover, workers from existing sectors such as oil and gas can bring huge value in terms of their transferable skills, to ensure a just and efficient net zero transition.”

A new phase of coordinated delivery

Ed Lockhart, Convenor of the Broadway Initiative, said the launch of Sector Transition Plans represented a “turning point” in the UK’s approach to the climate and energy transition.

“For years we’ve talked about the need for joined-up action between government, business and finance. Sector Transition Plans are the practical mechanism to make that happen. They will help each part of the economy identify what needs to be done, where the investment gaps are, and how we work together to close them. This is the point at which the UK’s transition becomes not just a policy goal, but a shared plan aligned to business goals.”

The Broadway Initiative, which has convened organisations from across the economy to help shape the STP approach, will continue to support implementation through a three-year programme of collaboration.