An open letter signed by over 80 businesses has called on the new government to put tackling climate change and fostering low-carbon growth at the heart of its policy.
The letter, published in the Financial Times, has called on the Conservatives to secure a global climate change deal in Paris that commits to limiting temperature rises to below 2°C. In addition, the coalition of businesses want the new government to set an ambitious 5th carbon budget and establish a long-term framework to help boost investor confidence in the UK’s green sector.
Notable signatories of the letter include BT, Coca Cola, E.On, IKEA, John Lewis, Marks & Spencer, Sky, SSE, Tesco and Unilever.
Commenting on the appetite from big business to tackle climate change and the opportunity it represents, WWF-UK chief executive, David Nussbaum said: “British business is ready to step up. From construction and energy to retail, the best British enterprises know that green growth is the future. They take on board that it’s no longer credible to base a sustainable economy on fossil fuels, so the government should put us on track for a low-carbon world.
“As we approach international climate talks, Britain should be a global champion for change, but a lack of consistent long-term policies sends a confusing message to business and undermines our attractiveness to investors. The Prime Minister should send a clear message that the only way forward is a green economy, and support forward-looking firms that want to build a clean economy.”
Julia Groves, chief executive of renewable crowdfunding platform, Trillion Fund explained why taking action on climate change chimes with the Conservative party’s values, she said: “Protecting the pound in people’s pockets is not at odds with supporting low carbon energy generation. Peer-to-peer lending and the maturity of energy generation technologies have come together to create an exciting opportunity for ordinary people looking for a decent return and potentially, to offer cheaper bills for locals too. Regular lenders and investors can sit alongside the Green Investment Bank, pension funds, private equity and banks as direct stakeholders in a clean future, and with the right support, this model can drive competition in energy and in finance, for people, planet and profit.”
David Cameron has shown some signs of green shoots in his cabinet appointments earlier this year. Green groups have particularly welcomed the prominent roles handed to Amber Rudd, Oliver Letwin, Greg Clark and Camilla Cavendish. Former Tory energy minister and close ally of David Cameron, Greg Barker has suggested that the new appointments show that Cameron is driving the green agenda in his legacy years.
