Spending Review – invest in transport to hit net zero targets

We released our The Future of Fleets report earlier this week which sets out our vision to ease our sector’s decarbonisation journey.

It follows our representative, industry-wide survey which revealed that the Government’s 2035 and 2040 net zero targets are at risk without urgent action.

Seventy percent of hauliers and 75 percent of coach operators say they have no plans to add zero emission vehicles to their fleets amid concerns about their cost, suitability, availability and performance.

This is why we’re calling for an urgent action plan from Government that includes
financing options, green infrastructure investment and incentivisation for use of low carbon fuels like hydrotreated vegetable oil (HVO).

Recent progress with ZEHID trials and announcements on public EV charging points is encouraging but much more is needed to decarbonise commercial vehicle transport – and progress needs to happen quickly.

For context about the scale of investment needed, the Green Finance Institute has estimated that £100bn of additional finance is needed to invest in zero emission HGVs alone.

These are messages we make clear to the Government ahead of next week’s Spending Review where we’re also making the case that improved roads and helping industry recruit and train more drivers will help facilitate their ambitious housebuilding programme.

Speeding up decarbonisation is a strategic investment and can unlock potential to drive economic growth. As ever we continue to work as trusted, collaborative partner with governments and other stakeholders to make that a reality.