The decarbonisation of the energy system is one of the biggest challenges facing our world, and National Grid has a critical role to play in the acceleration towards a cleaner future. That’s why I have announced a new target to reduce our own direct greenhouse gas emissions to net zero by 2050.
Our previous target was to deliver a 70% reduction by 2030 and an 80% reduction by 2050 for direct emissions from a 1990 baseline. We were on track to get there, having delivered a 68% reduction in emissions to date. But we know that we need to be bolder and more ambitious if we are serious about our commitment to lead the industry in this area. So today we’ve increased our 2050 target to net zero and we’re also reviewing our pathway to get there.
All of the regions where we operate have aspirations for a clean energy future and we want to play our part in helping them get there. That’s why, as well as our own direct emissions, we are also committed to working with government and regulators in all the markets we serve to help them meet their own carbon reduction emission targets.
We’re looking at all sorts of ways to reduce our direct emissions, from reducing the leakage from our gas pipelines through the use of robots traveling through our pipes to electrifying our vehicle fleet.
We’re also supporting the reduction of emissions that aren’t directly within our control. We’re doing this through initiatives such as energy efficiency programmes to help customers reduce energy consumption in their homes, or incentivising our supply chain to reduce the carbon impact of construction projects by including carbon weighting in our competitive tenders.
In wider support of the clean energy transition, we are also helping create a market for green finance by publishing a Green Financing Framework, which will support sustainable financing across the Group.
Those are just a few examples of the actions we’re taking and there are plenty more to come. We don’t have all the answers yet, but we are working hard on the pathway and I’m inspired every day by the passion, commitment and unwavering determination of our people to play their part in a net zero future.