Industry News


REA publishes ‘green pathway’ to accelerate drive to net zero and provide thousands of new jobs


T


he Association for Renewable Energy and Clean Technology (REA) have launched their ‘Strategy for Renewable


Energy and Clean Technologies’, which will accelerate the drive to net zero and provide thousands of new jobs.


Key targets within the Strategy include: ● By the end of 2022, more than 50% of electricity generation will be provided by renewables – this figure will reach 100% by 2032;


● Majority of energy demand for the heat and transport sectors could be met from renewable and clean technologies by 2035;


● All bio-waste could be either separated and recycled at source or collected separately by the end of 2023.


However, the REA say that, in order


for these targets to be met, a number of barriers will have to be removed. For the green industry to thrive, it


Dr Nina Skorupska, CBE.


needs a clear route to market, a fit for purpose grid network and a wide mix of technologies. The Strategy also reiterates


the economic benefits on offer from renewable energy and clean technology, with 200,000 new jobs in the sector being created by 2035 should the government provide the right support. Dr Nina Skorupska CBE, chief executive of the Association for


Renewable Energy and Clean Technology (REA), said: “The UK’s energy system is in the midst of the largest transformation for generations, moving towards the legally-binding 2050 Net Zero target for greenhouse gas emission reductions. The change required over the next three decades is on a par to that experienced during the industrial revolution; affecting people’s homes, businesses and the very fabric of the nation. “With COP26 on the horizon, the


government has an opportunity to make a bold statement – this Strategy not only sets out several necessary and achievable targets, but it also provides the solutions to removing the barriers which could prevent those targets being met. “It is now abundantly clear that


the argument of an ‘either/or’ choice between tackling climate change and providing an economic boost is over. Support for the renewable energy and clean technology sector will not only


Stora Enso divests non-core forest holdings in southern Sweden


As part of its forest land optimisation, Stora Enso has signed an agreement to divest forest assets located in southern Sweden to the forestry fund Silvestica Green Forest AB. The total area of forest land in the transaction is approximately 5,200 hectares. The selling price is approximately SEK 940 million (€90 million). The transaction is in line with


Stora Enso’s policy of divesting non-core assets. The forest areas are located geographically far away from Stora Enso’s other forest lands, which limits the scale benefits. The forest land divestment has no impact on Stora


4 Forest Bioenergy Review Spring 2021 The cash consideration for


the divestment is€90 million. Stora Enso will record a gain of approximately €70 million, based on the assets’ historical cost, in the Forest division’s operational EBIT for the first quarter of 2021. The gain under IFRS is expected


to be approximately €30 million, this being based on the estimated IFRS book value at the disposal date. The transaction is expected to


Enso’s nearby Hylte Mill, which uses other wood supply sources for its production. The forest land


corresponds to less than 0.5% of Stora Enso’s total forest land area in Sweden.


be closed during the first quarter of 2021. More information: Ulrika Lilja, EVP, Communications t: +46 72 221 9228


help the government reach its net zero ambitions, but it could deliver hundreds of thousands of new jobs and return billions of pounds worth of investment too. “Our Strategy offers government


the pathway to net zero and economic recovery – it is now up to them to deliver it.”


About REA


The Association for Renewable Energy and Clean Technology (known as the REA) is the UK’s largest trade association for renewable energy and clean technologies with around 550 members operating across heat, transport, power and the Circular Economy. The REA is a not-for-profit organisation representing fourteen sectors, ranging from biogas and renewable fuels to solar and electric vehicle charging. Membership ranges from major multinationals to sole traders. For more information, visit: www.r-e-a.net


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