Businesses urge government to set 2050 net zero goal ‘immediately’

The signatories of an open letter cover businesses from various industry sectors including energy, finance, consumer goods, retail, construction, water and communication

More than 120 businesses and investors in the UK are calling on the government to “immediately” adopt a net zero target for 2050.

CEOs from organisations including Anglian Water, Aviva, British Fashion Council, Bulb, Coca-Cola, Energy UK, John Lewis, Kingfisher, KPMG and Nestlé UK & Ireland have signed an open letter, urging the government to accept the recommendations of the Committee on Climate Change (CCC) and become the first major economy to legislate for an ambitious decarbonisation goal.

The signatories come from both national and multi-national businesses across industry sectors including energy, finance, consumer goods, retail, construction, water and communication.

Business and investment networks supporting the call include the CBI, Prince of Wales’ Corporate Leaders Group, Aldersgate Group and the Institutional Investors Group on Climate Change, representing more than 190,000 businesses and more than £20 trillion worth of assets under management.

The letter states: “As leading businesses and investors, we are determined to support an affordable transition and drive innovation. Many of us are setting our own net zero and science-based targets. We are also increasingly investing in and purchasing clean energy, using low emission and electric vehicles, converting land to carbon sinks and improving energy efficiency throughout our operations and portfolios – and making new green jobs in the process.

“We are doing this because we see the threat that climate change poses to our businesses and to our investments, as well as the significant economic opportunities that come with being an early mover in the development of new low carbon goods and services. But we need effective, long-term policies to support the investment and innovation required if the UK is to accelerate the necessary transition and ensure it is delivered fairly.”

Technologies for energy users that can help them reduce emissions and costs will be among those on display at The Energy Solutions Show (TESS)  on June 5th at Millennium Point, Birmingham.

If you wish to register as a delegate for free, you can send an e-mail here.

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