Net zero plans at risk from energy crisis as firms slam brakes on investments, CBI warns

The energy crisis is undermining the UK’s net zero climate plans as firms slam the brakes on vital CO2-cutting investments to pay soaring bills, business leaders are warning.

Bosses are preparing to halt switching to lower-energy plants and machinery, buying electric vehicles and installing wind turbines or solar panels, the Confederation of British Industry says.

No fewer than three in 10 firms told a new CBI survey that such spending will be “paused or halted entirely” unless the new government acts to cut industry costs dramatically.