Big business raises climate change concerns
Link: Big business raises climate change concerns
The heads of the 12 leading firms, including BP, Shell and HSBC Bank, have written to the prime minister asking for long-term policies to be introduced, to deal with climate change.
The industrialists say that climate change is a major challenge, which will need substantial investment by business, but this is not possible until future government policies on climate are made clear.
The letter was arranged through the Prince of Wales Business and Environment programme. It expresses concern about the possibility of dangerous climate change and supports the government’s target of reducing CO2 emissions by 60% by 2050.
In 2004, the Confederation of British Industry (CBI) successfully lobbied against proposed cuts in CO2 emissions, saying that this would harm British business. The Department of Trade and Industry and the prime minister, supported the CBI’s position.
However, in their letter, the business leaders say that if firms use new technology and use energy carefully, it would be possible to reduce emissions by 60% without damaging competitiveness. They believe that a safe level of CO2 emissions could be achieved by 2050 with only a 2% reduction in economic growth and that the UK could become a world leader in low carbon technology.
The industrialist suggest that the government should establish a long-term value for carbon emissions reductions, support and provide incentives for the development of new technologies, and eliminate contradictory policies that lead to increase in CO2 - such as out of town developments.
