Green Group Seeks Government Support to Boost Low-Carbon Economy in the UK

(3BL Media/Justmeans) – Swings in government policy in the UK in recent years have affected environmental businesses and raised concerns among potential investors. Green groups now worry that the new UK government could scrap the Climate Change Act, leaving the country without firm targets on curbing GHG emissions.

In a letter to The Guardian, the Aldersgate Group, representing more than 30 of the UK’s green and low-carbon companies, forecast that the low-carbon economy would rocket from two percent of the UK’s GDP today to 13 percent in the next three decades, if given proper support by the government.

The business leaders urged politicians across the spectrum to respond, as the policies of the next government will play a major role in determining how the sector develops and whether job opportunities are realized.

The letter, which was signed by 11 companies including Kingfisher, Aviva Investors, Anglian Water, Siemens, and Scottish and Southern Energy, called on the new government to put in place ambitious and long-term policies to tackle climate change and improve the state of the environment.

Nick Molho, executive director of the Aldersgate Group, said that the shift to a more efficient and lower carbon economy is well under way across the globe, with the cost of clean technologies, such as renewable energy and electric vehicles, falling rapidly, and investment growing strongly.

Organizations that are a part of the Aldersgate group include Anglian Water, Aviva Investors, Bank of America Merrill Lynch, Bioregional, BT, Burohappold Engineering, CMS, Cranfield University, The Crown Estate, Dong Energy, Eftec, Energy Saving Trust, Energy Technologies Institute, EAUC, Friends of the Earth, Grantham Institute, Green Alliance, IEEP, IEMA, Ikea, Interface, Interserve, Tata Motors, Johnson Matthey, Kingfisher, L&Q, M&S, Melius Homes, MHI Vestas, National Grid, NUS, Nestle, Norton Rose Fulbright, RELX Group, RSPB, SEPA, Siemens, Sky, Tempus, Thames Water, TUC, Vattenfall, Willmott Dixon, Woodland Trust, WSP, WWF, and XL Catlin.

Source: The Guardian

Image Credit: The Guardian/Bloomberg/Bloomberg via Getty Images