Despite its good intentions, the UK government is failing to achieve its green goals. This is the message from the Confederation of British Industry.
As it launched its latest Climate Change Tracker, the CBI have warned that investor confidence remains low, with the UK falling from 5th to 13th in a global ranking of low-carbon investment.
The Climate Change Tracker is an interactive tool developed by the CBI to track progress against the priorities set out in the CBI’s 2007 climate change report, Climate change: everyone’s business. The tracker shows that only one of the thirteen indicators is on track, and that progress is lagging on decarbonising buildings, transport and industry.
Katja Hall, CBI Chief Policy Director, said: “One year on from pledging to be the ‘greenest government ever’, the coalition has still not delivered the policy landscape needed to ensure we meet tough emissions targets. Decisions being taken now will make or break the UK’s low-carbon economy. Business confidence has clearly been bruised by sudden and unexpected policy shifts on the Carbon Reduction Commitment, the oil and gas tax hike and feed-in tariffs.”
The CBI said the Government had set the wheels in motion in a number of key areas, including providing more clarity on Climate Change Agreements and funding for the Green Investment Bank.
The CBI is calling on the Government to publish the Electricity Market Reform white paper by July, to provide better structure and clarity for businesses.
Ms Hall said the business community had major concerns: “The carbon floor price and CRC have been dressed up as helping achieve carbon targets but they risk becoming little more than revenue raisers for the Treasury. Meanwhile, there is also genuine concern about how the Green Deal and electricity market reform will work.”
The CBI is the UK’s leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce.