More than 200 leading UK businesses from across the real estate, retail, banking and energy sectors are calling on the government to deliver a Covid-19 recovery plan that builds back a stronger, more inclusive and more resilient UK economy.
In an open letter to prime minister Boris Johnson, chief executives from across the economy have offered support to the government in tackling the present health crisis, and have urged Johnson to provide clear vision for recovery efforts that align with the UK’s wider social, environmental and climate goals.
The letter, signed by 206 businesses, investors and business networks, states: “With the UK facing major economic and social concerns including the risk of high unemployment and rising regional inequality, we believe that an ambitious low carbon growth and environmental improvement agenda can do a lot to address these concerns, as well as make the UK economy better prepared to deal with future shocks such as those related to climate change.
“The current crisis, in moving us all away from business-as-usual, has already created shifts in how we operate, and we believe we must use the recovery to accelerate the transition to net zero. Efforts to rescue and repair the economy in response to the current crisis can and should be aligned with the UK’s legislated target of net zero emissions by 2050 at the latest.”
The initiative is being supported by the UK Green Building Council, Prince of Wales’s Corporate Leaders Group, Aldersgate Group, Business in the Community, the Institutional Investors Group on Climate Change and the Climate Group.
Chris Ireland, UK chief executive of JLL, a member of the UKGBC, said: “We have ourselves made an ambitious commitment to achieve net zero carbon by 2030, and the Covid-19 crisis has only deepened our conviction to accelerate net zero delivery. Now more than ever, we need strong leadership and swift action from government to ensure we are rebuilding the UK’s economy in a sustainable, fair and inclusive way. The transition to net zero presents the biggest opportunity to drive sustainable growth while building long-term resilience.”
Roger Burnley, president and chief executive of Asda, said: “This crisis has upended the way we do business, even for those of us that have continued to trade, but in recovery there is always opportunity. Our new normal must be one that is more sustainable and more resilient to the challenges of climate change than before, and it is incumbent on all businesses and government to work together to make this happen.”
“We believe the UK government should help generate a sustainable recovery to accelerate delivery of the country’s net zero carbon commitments. Investors have an important role to play in financing a greener and more sustainable future,” added Dr Steve Waygood, chief responsible investment officer at Aviva Investors. “The UK government must ensure that the right incentives are in place so that finance flows to where it can be most effective for a sustainable economy.”
Signatories to the letter are calling for:
1) A drive towards investment in low carbon innovation, infrastructure and industries, as well as improved resilience to future environmental risks
2) Focused support on sectors and activities that can best support sustainable growth, increased job creation and accelerate both the recovery and the decarbonisation of the economy
3) Financial support package measures to ensure businesses are well managed and their strategies are science based and aligned with national climate goals.
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