Stick with net zero targets for good of economy, businesses urge next PM
Business groups representing Amazon, Coca-Cola, Unilever and Lloyds Banking Group have all called on Conservative leadership contenders to protect the net zero target for the good of the economy.
There have been fears that the leadership election could cause the UK’s climate commitments to be ditched, as at least two contenders have said they would pause the emissions targets.
In an open letter, many of the UK’s leading business groups have called on the leadership hopefuls to deliver solutions to the climate and nature crises, and give businesses confidence to invest.
The letter states: “We have seen first-hand that investment in low carbon infrastructure and technologies delivers huge economic benefits. Supportive policy measures bring down the costs of clean technology, enabling businesses to capitalise on growing global markets.
“The benefits are significant. From job creation, increased exports, and geographically dispersed growth to inward investment and improved air quality from clean energy. Important contributors to levelling up opportunity across the UK.”
The plea, organised by Cambridge University’s pro-climate business group CLG UK, also makes the case for a clean energy transition in shoring up energy security and helping households with the cost-of-living crisis.
It highlights that many jobs are at stake if the climate commitments are abandoned; 56,000 new jobs were created in clean industries in the 20 months since the government’s 10 point plan for a green Industrial Revolution, and there is scope for an additional 440,000 jobs from the net zero strategy released last year.
Eliot Whittington, director of CLG UK, said: “The Conservative party has a significant track record of climate leadership. Their new leader
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