Leading businesses with a combined turnover of nearly £200 billion have written to the FT, warning that climate change is due to make UK flooding more frequent.
Signatories to the letter (see adjacent), which was co-ordinated by the Aldersgate Group, are Allianz, Anglian Water, Atkins, Aviva, Interface, Johnson Matthey, Kingfisher, Lloyds Banking Group, Mitie, Navigators and Swiss Re. The letter calls for prompt cross party political action to address the causes of climate change. While flood adaptation measures are critical, leadership is needed from all political parties to address the causes of climate change. Bold action will maximise investment and innovation to deliver resilience and future economic competitiveness.
Andrew Raingold, Executive Director of the Aldersgate Group said: "These floods were caused by the worst winter downpour in 250 years and the clean up bill is already on course to cost £1 billion. But adapting to the changing climate without addressing the root causes is like dishing out painkillers when we need major surgery. Political parties must come together to show leadership beyond the parliamentary cycle."
Read the FT article about this letter (£) here.