Reacting to the publication of three reports from the Committee on Climate Change (CCC) today, the Aldersgate Group stated that putting in place an ambitious low carbon policy framework is not only needed to meet the UK’s carbon reduction targets but also to strengthen the future competitiveness of its economy.
Nick Molho, Executive Director of the Aldersgate Group, said: “With the unprecedented speed by which the Paris Agreement will be coming into force on 4 November and a record $285bn invested in renewable energy globally in 2015, it is clear that tackling climate change and growing the low carbon economy has leapt up the international agenda. Much of the growth in low carbon investments is coming from countries outside the EU, with China, India, Brazil, South Africa and the US among the top ten global investors. At a time when Theresa May is focused on forging “a bold, new, confident role” for the UK on the world stage, government should take note of this global shift and prioritise the continued growth of its successful low carbon economy.”
Nick Molho added: “With the help of business and civil society, the government should now develop a detailed emissions reduction plan that will attract affordable private sector investment in energy efficiency and low carbon infrastructure to meet the UK’s carbon budgets at least cost and in line with the recommendations of the CCC in its latest reports. In doing so, government should put forward a clear plan to demonstrate the technical and commercial viability of new technologies in complex areas such as decarbonising heat. The upcoming industrial strategy is also an ideal opportunity to complement the emissions reduction plan and consider how targeted government initiatives can maximise growth and employment opportunities in the UK’s low carbon supply chain.”
 Bloomberg New Energy Finance, Global Trends in Renewable Energy Investments 2016: http://bit.ly/1RAJA8w
 Recent ONS figures have highlighted that 96,500 businesses in the UK operated in the low carbon and renewable energy economy in 2014, generating £46.2bn of turnover and employing 238,500 people directly. ONS’ statistics are available at: http://bit.ly/1XyY6ol