THE PRINCE of Wales's Corporate Leaders Group have welcomed the news that the government would stick to its commitment to cut carbon emissions by 50% by 2027, as indicated by the UK’s Fourth Carbon Budget.
Members of the group including Shell, Unilever, BT, EDF Energy, Kingfisher, Anglian Water, and Lloyds Banking Group, wrote to the Prime Minister in March 2014 urging a quick decision on the budget, which was bought under review by the government.
Eliot Whittington, UK Director of the Corporate Leaders Group said: “Today the government has removed some of the uncertainty facing businesses that want to invest in a growing low-carbon UK economy. We strongly welcome this confirmation that the UK is committed to climate stability and reducing the risks that climate change poses to future business operations.
“However it is also essential that the government follows through and ensures it has the policies in place and aligned to meet the Fourth Carbon Budget, and that the direction of travel remains clear to business through to 2030 and beyond.
“The government needs to ensure that the UK economy is well equipped for the 21st century. That must include taking account of the evidence around climate change, and ensuring we are managing the risks and seizing the opportunities appropriately.”
Earlier this year the Corporate Leaders Group warned the Prime Minister that delay or confusion over the government’s intentions would increase the cost of doing business and undermine investment and job creation.