10 July 2024 - The UK Corporate Leaders Group (CLG UK), convened by the Cambridge Institute for Sustainability Leadership, had published its key recommendations and examples from leading businesses on how to build a sustainable, competitive and resilient economy.
Read the policy briefing: "Unleashing the green economy: The role of UK business in fast-tracking climate action".
“Unleashing the Green Economy” acts as a guide for the incoming Government to unlock net zero and economic growth, providing concrete case studies showcasing successful business leadership across various sectors.
Ambitious climate policies have recently been the target of political challenges, and in some cases have been reversed in the UK. In the US, there is an ongoing backlash against environmental, social and governance (ESG) policies, while Europe is backtracking on green policies in the face of farmer protests. The global race towards achieving net zero emissions is intensifying, putting the UK’s leadership position at risk.
As other nations accelerate their efforts, investment opportunities are at risk of shifting away from the UK. In the US, the Inflation Reduction Act (IRA) attracted $110 billion in private investment within its first year. Similarly, the EU’s Green Industrial Plan has leveraged an additional $45 billion from the European Investment Bank (EIB), and is expected to mobilise over €150 billion in new green investments.
Net zero is a unique economic and political opportunity. The right policies, and bold political leadership, will allow leading businesses to go further and faster in their climate action. This will unlock the economic rewards associated with the transition while safeguarding the future for our children and grandchildren.
The policy briefing has five key recommendations:
- Use political and business leadership to capitalise on net zero
- Deliver a swift, secure and just energy transition
- Support greening of key economic sectors
- Bring together the climate and nature agenda
- Implement enabling policies for net zero and climate resilience
Beverley Cornaby, Director of the UK Corporate Leaders Group says:
“To unleash the green economy, we need a stable policy framework put together by an ambitious government - and ambitious corporate leadership. Our latest briefing spotlights businesses who are driving forward climate action. From Amazon’s electrification of its massive logistics operation, to EDF investing over £50 billion in clean air renewables, it shows that net zero is possible, but will require ambition and focused leadership from government to make a reality.”
Sophie Miremadi, VP Global Government Affairs and Public Policy, AVEVA, and CLG UK co-Chair, says:
“All too often we hear about the economic risks of accelerating action on climate change. The purpose of this publication is to help to challenge this assumption, as these businesses – some of the largest and most successful corporates in the UK – set out how climate action is driving investment, jobs and profitability.”
