Wednesday, December 2, 2020

UK business groups call for ‘just transition’ to net-zero by 2050

UK business groups have joined forces as part of their goal to create a net-zero UK by 2050.

The Federation of Small Businesses (FSB), the Confederation of British Industry (CBI), Make UK, the Institute of Directors (IoD), and British Chambers of Commerce (BCC) say businesses and workers must play a role in the shift to a carbon neutral economy.

As part of this commitment, they have written a joint letter to the Government reaffirming their position, highlighting the need for a joined-up, effective approach to the delivery of policy aligned to our long-term climate targets.

This follows on from a joint report on a Just Transition to Net Zero, which sets out five core principles needed to achieve this goal:

  1. Ambition
  2. Accountability
  3. Delivery
  4. Opportunity
  5. Cost

These principles are intended to act as a ‘fairness test’ for policymakers in planning and designing regulatory policy frameworks, and prioritising investment.

The business community has shown strong support for the UK’s net-zero target. In May 2020, 884 companies had set science-based targets, including 98 companies with headquarters in the UK and 456 companies with operations in the UK.

With COP26 on the horizon in Glasgow in 2021, delivering it has never been more crucial.

In a joint statement, the signatories said: “Businesses have long said they can’t afford to go low-carbon, but we’re now seeing a stark shift in narrative. They are enthusiastic about the future and there’s never been a better time to empower SMEs to make the shift.

“Big corporations have big budgets for green initiatives, but smaller firms need support to make sure they don’t get left behind. At a time when all political parties support the target that the UK should be carbon free by 2050, it’s now down to the Government to ensure businesses aren’t disproportionately hit.

“We believe that such an approach can provide a robust policy framework enabling the UK to maintain its current domestic and global ambitions, whilst being accountable, credible, and fair. With the right support they can play a critical role in helping the UK reach its green targets and shore up supply through a just transition.

“That’s why the five business groups have joined forces to call for a principle-led approach to develop its net-zero aligned policy.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Energy business CEO joins IoD team

The Institute of Directors has appointed Paul Stanley, CEO of Harrogate based energy business CNG, as a new Ambassador to its North Yorkshire committee. Paul...

Pension pool invests £40m in Sleaford Renewable Energy Plant

Leeds-based Border to Coast Pensions Partnership (Border to Coast), one of the largest UK pension pools, has invested £40m in Sleaford Renewable Energy Plant,...

Sills & Betteridge enters list of leading lawyers for second time

Sills & Betteridge has again been recognised as a leading law firm as it enters for the second time, The Lawyer UK 200. This list...

Former health-tech director appointed at AWRC

Sheffield Hallam University’s Advanced Wellbeing Research Centre (AWRC) has appointed a former director of health tech specialist, Medilink, as its new Deputy Director. Jason Brannan...

First phase of Treadmills regeneration opens to public

The first phase of the £17 million Treadmills regeneration project has opened to the public in Northallerton. Supermarket group Lidl, the retail anchor for the...

Airedale Chemical invests £20k in solar energy

Industrial chemical specialist, Airedale Chemical, has invested £200,000 to install solar panels as part of its continued commitment to reducing the its carbon footprint. The...

Related news

Pension pool invests £40m in Sleaford Renewable Energy Plant

Leeds-based Border to Coast Pensions Partnership (Border to Coast), one of the largest UK pension pools, has invested £40m in Sleaford Renewable Energy Plant,...

Sills & Betteridge enters list of leading lawyers for second time

Sills & Betteridge has again been recognised as a leading law firm as it enters for the second time, The Lawyer UK 200. This list...

Former health-tech director appointed at AWRC

Sheffield Hallam University’s Advanced Wellbeing Research Centre (AWRC) has appointed a former director of health tech specialist, Medilink, as its new Deputy Director. Jason Brannan...

First phase of Treadmills regeneration opens to public

The first phase of the £17 million Treadmills regeneration project has opened to the public in Northallerton. Supermarket group Lidl, the retail anchor for the...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close