The lack of attention given to climate change during the election campaign has been strongly criticized by the Confederation of British Industry (CBI), a major business group. In a conference held in London today, CBI’s Chief Executive Rain Newton-Smith will stress that any government claiming to be pro-growth must also be pro-green.
With only three days left until the general election, Newton-Smith will draw attention to the “deafening silence” from all parties on issues such as climate change, biodiversity loss, and achieving net zero emissions. She will caution against separating the economy from the goal of achieving net zero, stating that the next government cannot deliver for the people, planet, and communities without also prioritizing environmental sustainability.
In February, research conducted by CBI economists revealed that the UK’s net zero economy grew by 9%, significantly outpacing the general GDP growth of only 0.1% in the past year. This highlights the urgent need for a clear and comprehensive green plan to attract private investment. The research also suggests that the next government could add up to £57bn to the economy through green growth by 2030.
During the last UK general election in 2019, green issues were at the forefront of party agendas following widespread protests by groups such as Extinction Rebellion and school strikes led by Greta Thunberg. However, this year, the issue has become a divisive one, with parties taking different stances. The Conservative party has promised a more “proportionate and pragmatic” approach to climate action, while Labour aims to make the UK a “clean energy superpower” but has also watered down some of its green plans. In reality, the policies of both parties have more similarities than differences.
The CBI leader will urge the two main parties to commit to concrete steps towards achieving green growth. She will emphasize the need for the next government to actively promote green growth as part of an investor pitch for Brand Britain. Additionally, she will call for the establishment of an Office for Net Zero to coordinate action across different government departments. She will stress that separating the economy from the goal of achieving net zero is a dangerous mistake, and the real question should be whether we can afford not to take action.
Aside from the proposals of the Labour and Conservative parties, the Liberal Democrats have pledged to prioritize tackling climate change in their new industrial strategy. They believe that investing in clean energy will reduce emissions, lower energy bills, and create new job opportunities. The Scottish National Party (SNP), while dropping their greenhouse gas target, still aims to make Scotland a “green energy powerhouse” and promises an evidence-based approach to new oil and gas projects. They also seek more devolved powers over energy to better serve the Scottish people. The Green Party’s stance is to achieve net zero emissions more than a decade earlier than the current 2050 target and invest £40bn annually towards a green economy. Reform, on the other hand, has promised to scrap the net zero target and related subsidies to reduce bills and restore economic growth.
In conclusion, the CBI is urging all parties to prioritize green growth and take decisive action towards achieving net zero emissions. The next government must make it clear that they are serious about the investment opportunities presented by net zero and demonstrate their commitment to a sustainable future for the UK. The time for hesitation and backtracking is over, and businesses want to see concrete decisions and unwavering dedication to achieving net zero emissions.
