It finds that for all large companies (option 3), Defra overestimates the total costs by up to £4,600m and underestimates the benefits by up to £980m. To read the report, click here. You can also access the AG’s consultation response here and find out more about our Parliamentary debate ‘Crunch Time for Carbon Reporting’ with Defra Director General Mike Anderson and a panel of business leaders, by clicking here.

Check out our new look website by clicking here and follow us on Twitter by clicking here. The website has all the latest AG news and events, as well as updates on our six work themes.

The AG’s evidence on environmental taxation was referenced in the Environmental Audit Committee’s inquiry into Budget 2011.

The AG argued that the fair fuel stabiliser was a missed opportunity to reduce taxes on income rather than to pay for a decrease in Fuel Duty and that greening the economy should be at the heart of the Government's Plan for Growth. The AG's Executive Director, Andrew Raingold, appeared as a witness before the inquiry. To read more, click here.

A new report by the AG argues that regulation is an essential tool to stimulate growth while a crude deregulatory drive would risk damaging competitiveness.

At the Parliamentary launch event, DECC Minister Greg Barker said: "I really do welcome the latest report from the Aldersgate Group and I agree with its message, that we should seek the best value regulation... Provided we get a sensible, pragmatic balance right and use regulation proportionately it will remain a key tool in the drive to a low carbon energy, resource-efficient, business friendly, entrepreneurial economy." Click here to read the report, "Dealing with Deficits".

The AG supports the findings of a new progress report by the Committee on Climate Change which finds that an acceleration in the pace of emission reductions is required.

Andrew Raingold, Executive Director of the Aldersgate Group, said: "The Government should not hide behind carbon reductions that are a direct result of the recession. Much greater urgency is required if the UK is to meet its ambitious climate change targets and lead a green industrial revolution." The AG also wrote to all UK-based MEPs to urge them not to undermine the Government’s commitment to increase the EU emissions reduction target to 30% by 2020.

BIS Minister Lord Green, Xavier Rolet (CEO, London Stock Exchange) and senior business executives discussed the Government's plans for the Green Investment Bank at an AG reception. It provided commentary and analysis on the business and operating model of the new institution. To read more, click here.

The AG would like to welcome its newest members: Marks & Spencer, Cranfield University, CERAM Sustainability, Landmark Information Group, and WSP Environment & Energy.

For membership enquiries, click here.

The AG is also delighted to announce that Rob Lambe (Managing Director of Re-Thinking Local Carbon, Willmott Dixon) and Steve Wallace (Head of Environment, National Grid) have been appointed as new Board members and that Terry A'Hearn (Director, WSP) will lead our Best Value Regulation workstream.

Next month’s Green Monday (London, 1st August) will look at sustainability as the next major disruptive economic force - similar in impact to the internet.

Over the past 15 years, companies that underestimated the power of the internet such as Kodak, HMV and Waterstones have seen their value decline by over 90%; those who understood it, including Apple, Google and Amazon, have been on exponential growth journeys. For more information and to register for a place, click here.

The Aldersgate Group is partnering with the B4E Climate Summit 2011 which will take place in London (12th - 13th September).

This is the world's leading international conference for dialogue and business-driven action for the environment. The outcome of the Summit discussions will provide valuable input to COP 17, Rio+ and other global processes. To find out more and book a place, click here.

The next Guardian Sustainable Business Quarterly (GSBQ) will take place on 22nd September to discuss what influence brands can wield and how they can use their voices to inspire change. GSBQ events are free and targeted for corporate sustainability professionals. To find out more and request a place, click here.