Theresa May urged to show leadership towards zero carbon economy

Leading businesses and investor organisations are urging the UK Government to show leadership towards a zero carbon economy. They are calling on Prime Minister Theresa May to lead on climate […]

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By Priyanka Shrestha

Leading businesses and investor organisations are urging the UK Government to show leadership towards a zero carbon economy.

They are calling on Prime Minister Theresa May to lead on climate change in order to drive jobs, sustainable growth and investment and remain competitive with other major economies.

That includes setting clear policies through flagship proposals like the Industrial Strategy and the Clean Growth Plan to meet its commitment under the Paris climate agreement.

In a letter to Mrs May, the organisations add the UK has an opportunity to be part of a new, zero carbon economy, with a market which was worth $5.5 trillion (£4.2tn) in 2012 and growing at a rate of more than 3% per year.

The firms include The Prince of Wales’ Corporate Leaders Group, the Institute of Environmental Management and Assessment (IEMA), UK Green Building Council, techUK, Institutional Investors Group on Climate Change, RenewableUK and the Environmental Industries Commission.

The firms state they would like to support the government in bringing forward plans for emissions reductions, continue to work with the EU to deliver global emission cuts and build on the UK’s strong history of international leadership on climate change.

Jill Duggan, Director, The Prince of Wales’ Corporate Leaders Group said: “The government may have a lot on their plate with Brexit negotiations but answers around how the UK’s economy will evolve and modernise through the next decade are long overdue.

“Now is the time to display the vision, innovation and leadership needed to help UK industry transition to a low carbon economy.”