Zurich UK has called on the government to improve access to carbon capture and storage for all sectors.
It follows a recent report commissioned by the group which showed that the majority of UK industry sectors will miss 2050 Net Zero targets unless there are significant further steps taken by the government.
The study examined the 17 key UK industry sectors, outlining the scale of their Net Zero challenge and the steps that could help them play “catch-up” on carbon emissions.
The report highlighted the interconnections that exist between industry sectors, and necessitated the government to act as the “coordinating voice in order to implement progressive initiatives.
It also acts as an extension to Zurich’s global white paper on climate challenges, “Closing the Gap on Climate Action”.
Shaun Hicks, chief risk officer at Zurich UK, said: “The government needs to publish a detailed roadmap to a net-zero economy, with sector-by-sector analysis and a timeline of decarbonisation expectations to contribute to the overall 2050 national target.
“Whilst the application of innovations such as hydrogen fuel and carbon capture have great potential in realising a green future, the government needs to provide further clarity to give businesses the time they need to prepare for the net-zero transition.”
He added: “This study underlines that certain sectors are going to find it tough to decarbonise. Yet despite this, it’s also clear that there are sustainable actions which every business and individual can do now to contribute to the progress we need to achieve net zero by 2050.”