Net Zero is a term that is used a lot right now and there are frequent announcements and debates about it all. For many, they are interested in the environmental side alone, but for others the possibility for business to provide a solution is an equally important draw.

It is estimated we will need double the amount of power supplies by 2050 for example, and 600,000 heat pumps will need to be installed a year in the next five years – representing huge opportunities.

One area often overlooked however is transport (cars and beyond). There is so much going on in the transport space right now – which will be discussed at an event in July in London where the aim is for visitors to able to get to grips with what’s going on – and gain insights into how their business could benefit.

While many businesses and individuals plan to switch to Electric Vehicle (EV) cars, given lower running costs, not all are aware of the huge challenges and opportunities that cutting carbon in sectors like heavy goods vehicles, rail, maritime and freight offer.

There’s a huge range of activity in the sector and new support to help companies make the switch to lower carbon options – creating business opportunities.

For example, the Government has this year alone announced:

  • A phase out date for selling new petrol and diesel HGVs, busses, motorbikes and coaches;
  • Over £150million in funding for companies to make and use new Sustainable Aviation Fuel (SAF) – to deliver ‘net zero carbon’ flights;
  • New EV infrastructure investment, via the EV Infrastructure Fund and the Rapid Charging Fund, which offers £900m of funds;
  • A wide-ranging Low Carbon Fuels Strategy Review, which could open up new opportunities for biofuels production;
  • Three new fully funded schemes for sites making clean hydrogen.

Alongside this, industry has:

  • Scaled up production plans for zero emission vans and HGVs, with new brands fast emerging, such as Arrival and Tevva, which will offer more bespoke solutions to freight vehicles;
  • Published a report (the EV Energy Taskforce) examining the EV charging needs for the UK and identifying gaps;
  • Continued testing the world’s first hydrogen aircraft;
  • Continued to pilot hydrogen fuel-cell powered ferries.

Zero emission vehicles now account for around one in five new UK car sales, and rising, and there is unprecedented opportunity now in freight, rail, maritime and HGV fleets as new solutions emerge to cut carbon in transport.

This is a fast-moving policy area which I, along with other industry stakeholders, will be unpicking at Truck, Trains, Boats and Planes, being held in London on 14th July. To find out more click here.

Frank Gordon, REA Director of Policy