Alliance of business and green groups supports Government announcement on carbon targets

kristy SRI/ESG News

An alliance of the UK’s largest businesses and environmental groups welcome yesterday’s commitment to a legally binding target to reduce carbon emissions to 2027. They state that strong and clear action on climate change is essential for long-term economic growth, jobs and competitive advantage.

In an open letter to the Prime Minister and Deputy Prime Minister that is published today (attached), the signatories warn that failure to act at sufficient scale and pace would mean that the costs of tackling climate change in the future will be much higher and the UK will miss out on commercial opportunities associated with the low carbon economy.

The letter is signed by a large number of businesses, investors, industry bodies, trade unions and environmental groups. The signatories support the Government’s decision to accept the recommendation on the level of the fourth carbon budget from the Committee on Climate Change.

For news coverage, see the Financial Times “UK agrees tough carbon targets”:

Peter Young, Chairman of the Aldersgate Group which drafted the dispatch, said: “The message of this letter is loud and clear: strong carbon targets protect both the environment and the economy. They are vital for future competitiveness and provide the overall framework to enable the UK to be a leader in the transition to a low carbon economy.

“This will provide greater certainty for business to invest in green technologies and create jobs. Last week we called on the Prime Minister to show leadership on the climate change agenda and it is extremely welcome that he delivered. The focus must now be on the EU to raise its level of ambition.”