Border to Coast urges chancellor to clarify path to net zero
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Border to Coast’s chief executive has joined 48 business leaders in calling on the chancellor to clearly set out what the government’s priorities are for net zero industries and technologies in his upcoming Autumn Statement.
Rachel Elwell, chief executive of Border to Coast – one of eight Local Government Pension Scheme asset pools – has signed a letter alongside 48 business leaders demanding a clear net zero strategy from the government.
"The journey to net zero will require new business models, new companies and new infrastructure. Government has a clear role in developing a clear and consistent policy framework for companies and investors to deliver the investment required,” Elwell said.
The letter states: “For UK businesses to benefit from the opportunities offered by the transition to a net zero economy the government needs to provide a clear and consistent long-term strategy, develop a supportive policy environment, send better signals to the private sector about the scale and type of investment needed, and continuously engage with businesses and financial institutions.”
The signatories argue that the Autumn Statement, due on 22 November, provides an opportunity for chancellor Jeremy Hunt to set out some of the details, “as well as reconfirming the overall direction of travel, which has become clouded following recent political interventions”.
The letter, with UK-based signatories from firms including Amazon, Unilever, Zurich Insurance, Coca-Cola, Salesforce and Nestle, was coordinated by the UK Business Group Alliance for Net Zero led by the UK Corporate Leaders Groups, which is convened by the University of Cambridge Institute for Sustainability Leadership.
Beverley Cornaby, director of the UK Corporate Leaders Group, said the group is calling on the chancellor “to help unlock the economic benefits for businesses in the UK and ensure the UK retains its position as a global leader on climate change.”
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