The taskforce will devise a plan to cut energy consumption by 15% by 2030 compared to 2021 levels across domestic and commercial buildings and industrial processes.
Responding to industry’s call for long-term funding certainty to help strengthen supply chains, £6bn of government funding is being pledged from 2025 to support this objective, in addition to the £6.6bn allocated this Parliament – taking the total to £12.6bn this decade.
The Chancellor will confirm the appointment at a meeting with nearly 100 representatives from the UK’s top green firms to gather the best ideas for driving growth in the sector, projected to be worth £1 trillion to UK businesses up to 2030.
Membership of the Taskforce’s Steering Group will be announced shortly.
The Chancellor Jeremy Hunt said: “Our green industry is a key growth sector set to be worth £1 trillion by the end of the decade.
“It will bring high-paid jobs, brand new manufacturers and huge export opportunities – but needs extra attention now to make sure British companies and our people can fully share in the sector’s success and grow the economy.”
Rose, the £5m-a-year chief executive officer of NatWest Group, said: “Addressing the climate crisis is a team sport, and building vital partnerships between the public and private sector is the key to tackling this challenge at pace.
“Improving energy efficiency will not only drive a lower carbon environment, but also deliver greater economic security through lower bills for people, families, and businesses right across the UK.”
Rose has extensive experience in financing energy efficiency. NatWest Group has committed to provide £100bn of Climate and Sustainable Funding and Financing between 1 July 2021 and the end of 2025 to help families buy energy-efficient homes and create jobs that will deliver the transition to Net Zero.
