07 November 2023 - Today, His Majesty King Charles III delivered his first King's Speech, which marked the state opening of parliament. The UK Corporate Leaders Group has provided a rapid reaction to the contents and focus of the speech.
Beverley Cornaby, Director of the UK Corporate Leaders Group, said: “Any approach to the long-term future of this country cannot afford to ignore the worsening climate crisis and our legal commitment to reach net zero by 2050. Time is running out to achieve the Paris Agreement ambition to keep temperature rises to 1.5C. With every year that passes the challenge becomes greater as the scale and pace of change needed increases. Business has a vital role to play in delivering net zero but can only do so by working in close partnership with a supportive government. This week a group of business leaders wrote to the Chancellor calling for a strong UK response in the global economic race to achieve this goal.
“The King’s Speech was an opportunity to provide the leadership and clarity that UK businesses have consistently called for to help them deliver on their net zero ambitions and secure the investment this requires. Instead of doing what’s needed to set UK climate and energy policy on the right path for the long-term, the speech focused on a new system for continued fossil fuel extraction. However, the focus needs to shift from these sectors that can only play a diminishing role in our energy security, and the government should now urgently be looking to develop actions to support the green industries that will underpin the economy of the 21st century. The government have a long to-do list in order to move from warm words on net zero to delivering emissions reductions on the ground, now is not the time to be unpicking policies or casting doubt on the overall goal, now is the time for strong and clear leadership.”
Read more about the letter sent to the Chancellor here.
