Recovery from the pandemic understandably topped the agenda, but there was also a clear recognition of how deeply intertwined the goals of climate and biodiversity are to build back better. For those reasons, this year’s G7 feels more meaningful than ever. We face urgent global challenges that require a coordinated international response.
The B7 summit itself was a testament to the private sector’s commitment to join the fight for the climate. Companies of all sizes and sectors are poised to help governments around the world decarbonise and meet net zero commitments.
With the UK hosting both the G7 and COP26, companies understand the unique opportunity to be a world leader, building consensus and mobilizing action on a scale never seen before.
The companies I speak to every day in Yorkshire and the Humber recognize these responsibilities, but understand that promoting on the international stage starts at home.
The fight has already started. Just look at the huge advances in recent years; the constant shift towards decarbonized energy, companies developing game-changing carbon capture and storage centers, as well as sales of electric cars are increasing exponentially. However, to achieve a just green transition by 2050, we must move faster and faster.
Decisive action over the next decade will be crucial to avoid catastrophic impacts to the environment and communities around the world. That requires an even closer partnership between government and business.
By standing shoulder to shoulder, we can complete the transition to low-carbon energy and further reduce emissions in transportation, industry, and buildings. We can also strengthen the UK’s position as a global center for sustainable finance by driving green bond issuance and carbon offset trading.
With concerted effort and a bold vision for the economy, the tide of decarbonization can be a catalyst for better society. Plus, a host of huge prizes await the UK when it delivers on that promise: creating a greener and more innovative economy built on strong global ties and helping our region prosper.
But those abundant opportunities have a time limit. Delayed and they could easily go elsewhere. The UK government must seize the moment building on the ambition outlined in the ten-point plan for a green industrial revolution and be bold in leading by example before COP26.
So what are our next steps?
Let’s deliver a net zero strategy that reduces our global climate impact and sets a new target to reduce consumer emissions. Let’s build more gigafactories to support electric vehicles.
Let’s create a clear path to the hydrogen market, incentivize long-term energy efficiency improvements, and build an offshore wind energy supply chain to capitalize on our strengths.
And finally, as recommended by the IWC’s Heat Commission, let’s take a radical step to decarbonize homes by requiring all new domestic boiler installations after 2025 to be hydrogen-ready, or to use heat or heat pumps. urban.
A green revolution can also strengthen our workforce, by equipping workers with the green skills they need to take advantage of these opportunities, creating 240,000 net jobs by 2030.
You can’t just hope that ambitious climate policies will be put into practice; This is why so many UK companies are making progress on climate plans. But they need help, and that means the government helps clear the way for sectors to decarbonize.
Get it right and we will protect the planet for future generations. Get it wrong and the UK loses the race to net zero. Now is the time to ‘seize the moment’.
By Beckie Hart, CBI Regional Director
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This notice was published: 2021-06-03 09:27:16