CBI and UK's top five business groups call for a "just transition" to net-zero by 2050

Date
November 9, 2020
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The Confederation of British Industry (CBI), the Federation of Small Businesses (FSB), Make UK, the Institute of Directors (IoD) and the British Chambers of Commerce (BCC) support the private sector’s commitment to reduce carbon emissions and agree that businesses and workers alike, in partnership with government, must play a role in the shift to a carbon natural economy.

In reaching this outcome, today the B5 have published a new paper, setting out the approach government could take to deliver policy in pursuit of our long-term climate targets - namely net-zero by 2050 - an approach which is fair to all. The report, authored by the business groups, highlights five core principles needed to achieve this goal:

  • Ambition
  • Accountability
  • Delivery
  • Opportunity
  • Cost

These principles are intended to act as a ‘fairness test’ for policy makers in the planning and designing the regulatory policy frameworks, and in prioritising investment opportunities for all businesses. The paper also makes the case that policy and regulatory decision making across government and regulators must become more aligned if our long-term climate goals are to be realised.

This paper has been shared with the Prime Minister, accompanied by a letter to the UK Cabinet Committee on Climate Change which comprises Ministers of various government departments.