IIGCC's response to the UK Spring Statement, March 2025

Emily Murrell, IIGCC Policy Programme Director, responded to the UK's Spring Statement announced on 26 March, 2025.

"Yesterday's Spring Statement confirmed that the UK Chancellor’s room for fiscal manoeuvre has narrowed. Challenging as this is, it reminds us of the crucial role private capital can play in driving clean growth at this time. The immense economic opportunity presented by the energy transition is clear, and the government must reaffirm its commitment to decarbonisation as a lever for growth at every appropriate opportunity. Despite continued uncertainty, the net zero economy has shown remarkable growth, contributing £83.1 billion in gross value add between 2023 and 2024, according to recent data from the Confederation of British Industry.

“This is the time to raise ambition, including through the National Wealth Fund and Great British Energy, to simultaneously support regional growth and tackle climate change. The Spending Review and Industrial Strategy must ensure that these objectives are upheld in tandem.” 

About IIGCC: IIGCC is an investor-led membership organisation. We bring the investment community together to navigate the risks and opportunities of the transition and support progress towards a net zero and climate resilient future. We work with our members to create guidance, tools, frameworks and resources that can help them, in their individual contexts, to manage climate-related financial risk within their individual portfolios. Our work also supports investors to make the most of opportunities presented by the transition towards a decarbonised global economy and the realities of a changing climate. We have 400+ members across 20+ countries. More information at www.iigcc.org

Disclaimer: All communications and initiatives undertaken by IIGCC are designed solely to support investors in understanding risks and opportunities associated with climate change and take action to address them. Our work is conducted in accordance with all the relevant laws, including competition laws and acting in concert rules. IIGCC’s services to members do not include financial, legal or investment advice. The views expressed here do not necessarily represent those of all IIGCC members.