More than 120 UK businesses have called on the government to put ambitions for net zero emissions by 2050 into legislation.
The CCC recommended a target of net zero emissions by 2050 in a landmark report, released at the start of May 2019. The report – and its recommendations – were widely welcomed by the industry.
Now, 128 multi-national and national businesses from a wide range of industry sectors including energy, finance, retail and construction, have signed the letter to the government to put the net zero target into legislation.
It points to the net zero targets already being set by many businesses, as well as investments being made into clean energy and electric vehicles.
“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,” the letter states.
Businesses supporting the letter include Aviva, Coca-Cola, Anglian Water and the John Lewis Partnership, with business and investment networks including Aldersgate Group, the Prince of Wales’ Corporate Leaders Group, the CBI and the Institutional Investors Group on Climate Change.