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Invest £500 million to help energy-intensive industries move to low-carbon techniques

Last updated 3 hours ago

We will invest £500 million to help energy-intensive industries move to low-carbon techniques.

Conservative Party Manifesto 2019, p.55

Our verdict

  • This is a promise of investment to help energy-intensive industries lower their carbon emissions.
  • In April 2020, the government said the first phase of the Industrial Energy Transformation Fund (IETF) would open in spring 2020 and would provide “£30 million grant funding towards energy efficiency equipment in industrial processes and engineering studies for future decarbonisation projects”. The application process launched on 20 July and ran until 28 October 2020. In addition, the Energy white paper in December 2020 promised the publication of “an Industrial Decarbonisation Strategy in spring 2021”.
  • Successful applicants for IETF funding are due to be notified on 27 January 2021, but the £30 million planned for phase one is a long way from the £500 million pledged here, and the details of the promised Industrial Decarbonisation Strategy are yet to be seen, so for now this policy is ‘in progress’.  

There's always room for debate

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