Business leaders have welcomed the government’s announcement that it will legislate to achieve net-zero greenhouse gas emissions by 2050.
The net-zero target will replace the existing target to reduce emissions by 80% by 2050 laid down in the 2008 Climate Change Act.
The CBI said UK business stood “squarely behind” the government’s commitment. “This legislation is the right response to the global climate crisis, and firms are ready to play their part in combating it,” said CBI director general, Dame Carolyn Fairbairn, who added that the legislation must be followed by a commitment to long-term policies that support decarbonisation across the economy.
The theme of business certainty was echoed by other industry and sustainability leaders. Outgoing M&S sustainability director and Plan A architect Mike Barry wrote on Twitter: “Really important UK biz has the long term policy stability of #NetZero2050 to seize the huge economic opportunities of creating a new global #lowcarbon economy.”
Campaigners also welcomed the commitment but warned that a 2050 target was too slow to address the damaging effects of climate change. “The next prime minister must legislate to end our contribution to climate breakdown earlier, put carbon-cutting at the centre of policy-making and pull the plug on plans for more roads, runways and fracking,” said Friends of the Earth chief executive Craig Bennett.
Bennett also criticised a caveat which allows the government to review the commitment in five years’ time should other countries not follow suit, thus compromising the UK’s international competitiveness.
In a letter to Theresa May leaked to the Financial Times earlier this month, chancellor Philip Hammond warned that achieving net zero emissions by 2050 could cost the UK more than £1tn.
