Transport is one of the largest contributors to UK domestic greenhouse gas emissions, contributing 28 percent of UK domestic emissions in 2018. Within the sector, road transport was the largest emitter of GHGs, with cars alone contributing 55 percent of domestic transport emissions in the same year.
The decarbonisation of road vehicles is required urgently to support the transition to a zero-carbon economy.
Changes will be required to the sector’s regulatory framework, vehicle supply, refuelling and recharging infrastructure and energy system readiness, in order to change the mindset and behaviour of end-users.
Finance, both public and private, will play a critical role in the transition, with the opportunity to create skilled jobs and increased investment across the supply chain.
The Green Finance Institute is in the process of designing its latest innovative, industry-led coalition to unlock the financial barriers to decarbonisation across all segments of the road transport industry and deliver these real-economy outcomes.