Following the publication of a report today by the Energy and Climate Change Select Committee, Setting the fifth carbon budget, the Aldersgate Group stressed that an unequivocal adoption of the fifth carbon budget recommended by the Committee on Climate Change (CCC), backed up by a clear plan to deliver it, was essential to cut emissions cost-effectively and support the continued growth of the UK’s low carbon economy.
Nick Molho, Executive Director of the Aldersgate Group said: “Last December, the UK played a commendable role in the success of the Paris climate change agreement, which was signed by over 170 countries just a few days ago. Now is the time to translate international commitments into a new set of national policies to guide cost-effective investment in energy efficient, low carbon transport and clean energy technologies over the next 15 years.
Adopting the CCC’s fifth carbon budget recommendations, which are based on the minimum levels of emission cuts the UK needs to deliver out to 2032 if it is to meet its long-term targets affordably, is an important part of this.”
Nick Molho added: “With China having increased its investment in clean energy by 120% over the last five years and the international low carbon goods and services sector already worth $5.5tn in 2015, it is clear that the international low carbon economy is rapidly growing. It is key to the UK’s future economic competitiveness that it continues to support the growth of its low carbon economy whilst also taking care to provide the necessary support to its energy intensive sector during this transition.”
Ahead of the signing ceremony at the United Nations’ headquarters tomorrow (22 April) of the Paris Climate Change Agreement, the Aldersgate Group said that the signing of the Agreement was an important and positive step forward but that it had to be rapidly followed by regional and national policies to increase investment in low carbon technologies.
Nick Molho, Executive Director of the Aldersgate Group said: “Since the Paris Climate Change Summit concluded last December, we have seen a steady increase in business commitments and initiatives to reduce greenhouse gas emissions and grow low carbon investments. National governments need to build on this and the momentum provided by the signing ceremony to rapidly ratify the Paris Agreement and put in place the national policies that will help meet the goal of limiting global temperature increases to well below 2C.”
“In the UK, this will require a rapid implementation of the fifth carbon budget recommended by the Committee on Climate Change, together with a clear plan to support cost-effective business investment in the energy efficient and low carbon technologies that the UK needs to cut emissions and modernise its infrastructure. It will also require a clear strategy to support the UK’s energy intensive industries in the transition to a low carbon economy and ensure that they have a role to play in the supply chain.”
Nick Molho added: “We have to remember that delivering the Paris Agreement on the ground isn’t just important for the environment, it’s essential to prevent the significant negative impacts that climate change will have on the world economy if left unchecked. The move towards a low carbon economy can also open up significant economic opportunities, with the international low carbon goods and services sector already worth $5.5tn in 2015”.
With two weeks to go until the London mayoral election, the Aldersgate Group has today sent a letter to each of the mayoral candidates with four key business recommendations to help London tackle its environmental challenges such as air pollution and grow its low carbon economy.
Building on the recent event hosted by AG in March, we ask the next Mayor of London to prioritise the following areas:
The full letter is available to download.
Reacting to the publication today of the Environmental Audit Committee’s report, EU and UK Environmental Policy, the Aldersgate Group said that whilst improvements needed to be made, EU environmental policy was on the whole positive for UK businesses.
Nick Molho, Executive Director of the Aldersgate Group said: “EU environmental policy is important for UK businesses in that it has helped introduce similar environmental rules that apply to all businesses active in the Single Market. This has created more of a level playing field for UK businesses and reduced the cost and complexity associated with complying with different regulations in different Member States.
The EU’s common environmental and product standards have also sent clear market signals to businesses, which have helped both create market opportunities for businesses across the Single Market and improve environmental sustainability in certain markets such as the energy efficiency of consumer products and the sourcing of timber.”
Nick Molho added: “EU environmental policy could be improved in a number of areas such as by improving the common implementation of rules in different Member States, removing inconsistencies in the EU’s waste legislation and ensuring that new policies are developed in a way that better takes into account the EU’s overall environmental objectives. However, the UK and its businesses are likely to be better placed to make these improvements and influence the EU’s future environmental priorities if the UK remains part of the EU.”