Corporate leaders call for UK leadership on climate change
Business leaders from thirteen major UK and international companies are offering to support the Government in developing new, longer-term policies for tackling climate change. In a letter addressed to the Prime Minister, Tony Blair, the companies argue that there is a need for urgent action to be taken now to avoid the worst impacts of climate change, and offer to work in partnership with the Government towards strengthening domestic and international progress on reducing greenhouse gas emissions. They also pledge to engage other British businesses, the UK public and governments and businesses internationally to back this effort.
(I-Newswire) - The group of CEOs and senior executives has come together under the auspices of HRH The Prince of Wales’s Business and the Environment Programme in response to a challenge issued by the Prime Minister in his climate change speech at the Programme’s 10th Anniversary in September 2004. In its letter, it argues that investing in a low-carbon future should be “a strategic business objective for UK plc as a whole”. However, it points out that at present “the private sector and governments are in a ‘Catch 22’ situation with regard to tackling climate change, in which governments feel limited in their ability to introduce new climate change policy because they fear business resistance, while companies are unable to scale up investment in low carbon solutions because of the absence of long-term policies”.
In the letter, the corporate leaders say that their main concern is about how they “as business leaders can help bridge the gap between today’s economy and the radically different low-carbon future that will be needed” to deliver the Government’s stated aim of reducing emissions by 60% by the year 2050. The business leaders point out that they and other companies have already made significant investments in low-carbon technologies, processes and products, but say that “what we have done so far is not nearly sufficient given the size of the challenge facing us”. They argue that what is needed is a “step-change in the development of low-carbon goods and services”, and that delivering this will require a strengthening of policy mechanisms, with an emphasis on the careful and focused use of market mechanisms which will minimise impacts on competitiveness. In particular they argue that the Government should work to extend targets for emissions trading policies to 2025 to increase market confidence and reduce the risk of investing in low carbon technology.
The leaders cite the International Energy Agency’s calculations that $16 trillion dollars of energy infrastructure investment will be needed worldwide over the next 25 years to satisfy the world’s growing energy needs. They argue that this investment can “set the stage for enormous commercial opportunities for the UK if it is coupled with a shift to a low carbon economy.” While acknowledging that tackling climate change will impose some upfront costs on businesses, governments and the public, they argue that “with the right policy framework in place, these can be minimised, and the UK’s overall competitiveness need not be adversely affected.”
The group concludes by offering to work in partnership with the Government to:
Support the development of a world leading climate change policy framework for the UK, including by advising on policy design and publicising its support for new policies; Influence other businesses, the public and governments and businesses internationally, including by working on G8 and EU initiatives that are seeking to engage India and China on the issues of climate change and energy; Increase its own investment in the development and application of low carbon technologies as new policies are introduced, and acting as champions for such investment by other UK businesses.
It is expected that the Group will meet with the Prime Minister to discuss its recommendations in the run-up to the G8 Summit at Gleneagles in early June.
Welcoming the Corporate Leaders Group’s report, The Prince of Wales said:
“A challenge of the magnitude of climate change requires a co-ordinated response, based on actions across every sector of society, and the business community is going to be critical in achieving this. The role these companies are offering to play is highly strategic – essentially helping to create a political space in which effective policies can be introduced and global progress can be achieved.”
Notes for Editors:
1. The Corporate Leaders Group is made up of business leaders from: ABN Amro, AWG, BAA, BP, Cisco Systems, F&C Asset Management, HSBC, John Lewis Partnership, Johnson Matthey, Scottish Power, Shell, Standard Chartered Bank, Sun Microsystems. For a copy of the letter to the Prime Minister dated 27th May 2005 which includes the full list of the membership of the Corporate Leaders Group, please see http://www3.cpi.cam.ac.uk/index.php/content/view/380/144/
2. The Corporate Leaders Group is convened by the University of Cambridge Programme for Industry on behalf of HRH the Prince of Wales’s Business & Environment Programme ( BEP ). At the 10th Anniversary Lecture of the Business & the Environment Programme, the Prime Minister warned of the potentially catastrophic risks posed by climate change. Amongst the steps outlined to address the issue, Tony Blair vowed to make climate change one of the Government’s two priority issues for the UK’s Presidency of the G8 in 2005. Responding to the Prime Minister’s challenge, the Business & Environment Programme established a group of senior business people to provide a coherent voice from across the range of industry sectors to contribute to the response to the issue of climate change.
About HRH The Prince of Wales’s Business & the Environment Programme HRH The Prince of Wales's Business & the Environment Programme, which is run by the University of Cambridge Programme for Industry, was established in 1994 by The Prince of Wales. The Programme helps senior executives explore the business case for sustainable development and integrate sustainability principles into their organisations. Business leaders, representatives from the public sector and NGOs participate in one of the Seminars held each year in Cambridge, New York, Salzburg and Cape Town. The Programme has introduced over 1,000 executives from over 400 organisations in more than 30 countries to the sustainability debate. They then become members of an active and influential alumni network. The Prime Minister spoke on the occasion of the BEP’s 10th Anniversary in 2004.
About the University of Cambridge Programme for Industry The Corporate Leaders Group is facilitated by the University of Cambridge Programme for Industry ( CPI ), which developed and runs the Prince of Wales’ Business & the Environment Programme. CPI provides leadership development programmes and learning services for senior individuals and major organisations around the world. Its focus is on developing capacity within business, governments and civil society to respond to contemporary societal challenges. For further information visit: www.cpi.cam.ac.uk. Will Day, former Chief Executive of Care International, and now Senior Associate at CPI and Special Advisor to the UNDP, is CPI’s spokesman on the Corporate Leaders Group.
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For further information and to arrange interviews, please contact: The University of Cambridge Programme for Industry, on behalf of the Corporate Leaders Group:
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