11 July 2024 - The decisions made by the new government over its first 100 days will be critical for demonstrating green leadership, writes Beverley Cornaby, Director of Corporate Leaders Group UK.
After 14 years of fast-changing prime ministers and a slew of policy reversals on climate change, calling for yet more change might seem odd.
But businesses value stability and ambition in equal measure. Labour's election last week could be just what's needed to kick-start the green economy and bring about a real commitment to climate and nature.
As Prime Minister Keir Starmer put it after winning his own seat: "The change begins right here."
Starmer's first few days in office seen the government lift the de facto ban on new onshore windfarms – effective immediately - and has committed to doubling wind energy by 2030.
The new government must now show it can deliver this kind of change across the board, and quickly. It's not long until Parliament breaks for summer recess. It needs to get its skates on.
The first 100 days of any new government are always critical in demonstrating they have what it takes to lead. The Labour government will have significant opportunities to place itself on the front foot during this window, including New York Climate Week and the UN General Assembly in September. The climate negotiations at the COP29 Climate Summit in Azerbaijan will follow shortly after.
There are many hurdles to overcome on the way. With the UK currently way off track to reach our next batch of climate targets by 2030. Thew new government faces an extensive and difficult to-do list.
So, in those first 100 days, what does the new government need to do?
Labour must quickly outline the opportunity green growth presents to the country and the actions they will take to deliver for people at a time when we are still in a cost-of-living crisis. This includes setting out a clear plan for how it will "make Britain a clean energy superpower" and deliver the infrastructure, investment and skills needed for the green transition.
Labour will be very quickly judged by the British people for how they succeed in their commitment to cut bills, create jobs and bring security of energy supply. They will also be critiqued by business for how fast they can turn their manifesto into policy that unlocks investment from the private sector. Policies like the US Inflation Reduction Act and the EU Industrial Growth Plan have been judged by the amount of private investment they have unlocked and it is this kind of clear green investment plan that businesses want to see in the UK.
However, the clean energy transition is not enough. Labour must also follow through with its commitments across transport, industry to water agriculture and land. The party manifesto acknowledges the climate crisis has accelerated the nature crisis, and business will be watching closely to see how they integrate action on biodiversity and adaptation, alongside actions to mitigate climate change.
And the most important thing is that the new government walks the talk.
Above all else, to demonstrate leadership Keir Starmer's team will need to ensure the language it uses provides a clear vision that is backed up with plans that demonstrate a commitment to green growth. One of the most damaging things for the green economy over the last few years has been the constantly changing rhetoric and policy reversals that have reduced confidence in the UK as a stable place to invest.
This is the change we now need - a shift towards stability, clarity and certainty, that returns the UK to its former position as a global climate leader with a strong, green economy.
First published in BusinessGreen.
