Business Outlook 2023

Delivering net zero emissions

• T he UK economy is not currently on track to meet its emissions commitments • G overnment action is needed to support people and businesses to invest to cut emissions • T he oil and gas industry’s experience can be harnessed to deliver low carbon energy • The offshore sector is fully committed to net zero

• A strong oil and gas sector will help the transition happen more effectively • M ost of its skills can be applied to carbon capture and offshore wind projects • C ompanies are already delivering new projects and there are more to come

CO 2

• B ut government and regulators need to help speed this up • P roviding faster access to grid connections and approval processes for offshore wind • P utting commercial frameworks in place for hydrogen production • Picking up the pace on support for CCS projects

BUSINESS OUTLOOK 2023

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