Six years after the UK pioneered net-zero legislation, the global energy transition has gained unstoppable momentum, driven increasingly by compelling economic forces. Chris Skidmore, former UK Energy Minister and Chair of the UK Net Zero Review, emphasizes that these economic realities will ultimately overcome any vested interests seeking to delay the transition, asserting that net-zero is not only an environmental necessity but also an economic imperative for a prosperous future.

Internationally, the world remains on track to fulfill its commitment to treble renewable energy generation by 2030, aiming to add 11,000 GW of clean power. This rapid expansion is evident in solar energy, which accounted for just over one percent of global electricity at the Paris Agreement's signing a decade ago. Bloomberg projects 700 GW of solar deployment in 2025 alone, a figure that surpassed the combined total electricity demand of Spain, the UK, and Italy last year. The exponential decline in the cost of renewables and batteries since 2015 is a key driver; solar panel costs have halved since 2023, and 2024 saw as much battery storage installed globally as in the preceding three decades. Last year, 77 percent of all new global electricity came from clean power, a figure expected to approach 100 percent in 2025.

This remarkable global shift is enabling countries to become 'electrostates,' fostering energy independence and reducing reliance on traditional 'petrostates.' This 'energy democracy' is simultaneously catalyzing new financial markets and investment streams. Currently, two-thirds of all new energy spending is directed towards electricity-supporting technologies, with investment in fossil fuels now only half that of renewables.

Following his political tenure, Skidmore has actively sought to implement the policies he championed, particularly by securing investment for companies and projects focused on industrial decarbonization and new market development. His advisory investment firm, Desmos, with hubs across Europe, Canada, and the US, is already facilitating capital for innovative technology companies. Skidmore also continues his public service by chairing the policy working group for the UK’s Transition Finance Council. This group aims to position the UK as a leading global hub for energy transition investment and financing. In the coming months, the council will release new transition finance roadmaps, which Skidmore anticipates will not only guide the UK’s investment pathway but also serve as a template for other nations.

As outlined in his Net Zero Review, "Mission Zero," the UK's global leadership in net-zero is poised to deliver significant international impact, not only in emissions reduction but also in attracting investment both domestically and into UK-led technologies and businesses. The energy transition is an undeniable reality, and maintaining course is essential to secure the jobs and investments that will define the future.