Karen Ward: Higher energy prices can be used to drive change in the pursuit of net zero | Business

Over the past year energy prices have rocketed. Petrol prices are up by 25 per cent and many households and businesses will face much higher utility bills when the present price cap expires in April.

The government is being called upon to act: to shield households and businesses from the damaging impact that higher prices will have on consumers’ disposable income and on corporate profits.

At the same time, the government is being pulled in an opposing direction. In an effort to tackle climate change, the UK and other leading nations have signed up to significantly reduce emissions of greenhouse gases. Britain, the United States and the European Union have legislated to be “net zero” by 2050.

Reaching these targets will require a

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