New research shows rail freight is levelling up Britain’s economy and cutting emissions across the country. The Value of Rail Freight report, from the Rail Delivery Group, says total economic and social benefits of rail freight are valued at 2.5 nillion British pounds (2.78 billion euros) every year. The areas benefiting most include Yorkshire in the north of England, Scotland and Wales.
Britain is facing unprecedented economic and environmental challenges, never before faced outside of war time. New independent research, commissioned by the Rail Delivery Group, says that rail freight is playing a big part spreading economic activity, and supporting a green recovery from COVID-19.
Rail freight to meet carbon targets
The Rail Delivery Group, the membership organisation representing UK’s passenger and rail freight companies, has commissioned independent research by analysts Deloitte. The outcome of the work, the Value of Rail Freight report, has shown that the rail freight sector delivers billions in economic and social benefits around the UK. They conclude that the sector could play a major role in supporting the country to reach net-zero carbon emissions.
Government mandated targets mean that the whole of industry will be required to be net-zero carbon by 2050, with some tough milestones along the way. Far from contributing to that problem, the report points out that rail freight is already cutting Britain’s carbon footprint. By effectively preventing seven million heavy goods vehicle journeys each year, rail freight is supporting economic activity at one quarter of the carbon burden compared with road transport.
Sector specific economic contribution
The commercial value of the sector has been reappraised too. Using new framework references, the analysts Deloitte have concluded that the value of a rail freight path can be worth up to 1.5 million GBP (1.78 million euros) each year. That means businesses all around the country benefit from reliable and economical transport services, providing efficient routes to markets and better connectivity to ports, supporting access to markets around the world.