The Co-op, Southern Co-op, Coca-Cola Europacific Partners, Danone, Highland Springs Group and Nestlé UK & Ireland are some of the 116 businesses that have signed a letter to the Prime Minister highlighting an urgent need for short and long term government delivery plans for net zero and nature restoration.
The letter, which affirms business and finance sector commitment to support the UK’s climate and nature targets, comes nearly two weeks after the new Prime Minister announced plans to tackle the energy crisis, which included a new round of oil and gas licences and lifting the moratorium on fracking. The letter text maps out what is needed to improve energy security, shield the UK from volatile fossil fuels prices and enable the country to deliver its climate promises.
The letter states: “As skyrocketing energy bills inflict considerable costs on businesses and push vulnerable households into poverty, we would like to see you prioritise policies that will address this crisis, as part of a robust net zero strategy. […]
“Acting now to accelerate the energy transition, could both support UK households with the cost of living and deliver huge economic benefits, unlocking opportunities for the UK to be a leader in clean growth. Industry experts predict this action could reduce yearly household energy bills in the UK by seven percent by 2025, rising to a 50% reduction by 2035.
“At the same time, restoring nature through a comprehensive environmental improvement plan, a strong national adaptation plan, and setting ambitious long-term targets will help build the UK’s resilience and support the economy by reducing threats to food security and the economic and social damage of climate impacts.”
Shirine Khoury-Haq, chief executive officer, The Co-op said: “We are in the grip of a climate crisis and it is critical that business and government alike take responsibility and act urgently. That’s why at Co-op we are committed to becoming a net zero business by 2040. Together, we call on the UK government to take ambitious action to achieve net zero and reverse nature loss.”
Southern Co-op chief executive, Mark Smith said: “We need action now. Climate action and sustainability targets must be embedded into everything we do as local businesses, in local communities and within Government. We would urge everyone to prioritise this work in order to build resilience or the future will be much bleaker for us all.”
Stephen Moorhouse, general manager, Great Britain, Coca-Cola Europacific Partners, said: “As businesses, we are committed to playing our part in tackling the climate crisis and we welcome strong political leadership in this space as we believe this is critical in ensuring our economy transitions towards net zero.”
The signatories were coordinated by the UK Business Group Alliance for Net Zero (BGA) led by the UK Corporate Leaders Group (CLG UK), convened by the University of Cambridge Institute for Sustainability Leadership.
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