Business groups representing thousands of UK businesses – including Lloyds Banking Group, Amazon, Unilever, Coca-Cola, Signify, Scottish Power and Thames Water – are calling on the Conservative leadership candidates to protect the net zero target.
“We have seen first-hand that investment in low carbon infrastructure and technologies delivers huge economic benefits. Supportive policy measures bring down the costs of clean technology, enabling businesses to capitalise on growing global markets. The benefits are significant. From job creation, increased exports, and geographically dispersed growth to inward investment and improved air quality from clean energy. Important contributors to levelling up opportunity across the UK.”
In addition to the necessary drive towards a low carbon, pro-nature economy, the letter also focusses on the importance of the clean energy transition in shoring up energy security and helping households with the cost-of-living crisis. The letter was coordinated by the UK Business Group Alliance for Net Zero (BGA) led by Cambridge University’s pro-climate business group CLG UK.
Eliot Whittington, Director, CLG UK said: “The Conservative Party has a significant track record of climate leadership. Their new leader will have a choice between building on this track record and delivering for the UK economy and society or abandoning it and condemning the country to fall behind on the energy transition and face unnecessary costs and risks. Forward looking businesses want more, not less, ambition on climate action, especially as we see the ramifications of volatile fossil fuel supply chains ramping up the cost-of-living crisis and reducing regional energy security. The next Prime Minister must centre climate policy and continue delivery of net zero and regenerating the UK’s nature.”
The business groups reiterate the importance of continued support for action to reduce the UK’s negative climate impacts and highlights the 56,000 new jobs created in clean industries in the 20 months since the government’s 10 Point Plan for a Green Industrial Revolution, and the scope for an additional 440,000 jobs from the Net Zero Strategy released last year.
Dan McGrail, CEO, RenewableUK said: “We want to be clear with all MPs putting themselves forward to be the next Conservative leader that delivering net zero is a pro-business stance. You can already see the benefits of decarbonisation through the roll-out of new renewable energy, which is lowering consumer bills, driving billions of pounds of private investment into the UK and boosting the productivity of our economy. Our net zero ambition is not just about protecting our environment and climate, but the modernisation of our economy.”
Julie Hirigoyen, CEO, UK Green Building Council said:“As prices soar businesses are looking for the next Prime Minister to deliver on the UK’s legal climate commitments, not ditch them. Tackling the climate and cost of living crises are two sides of the same coin. Insulating our homes and businesses will bring bills down, bolster energy security and help achieve net zero carbon, whilst giving a real boost to the economy and industry.”
