Companies bidding on major government contracts will be required to sign a commitment to be net zero by 2050 | Climate News

Companies looking to secure government contracts will have to commit to being net zero by 2050 under new requirements.

From September, companies seeking public sector contracts worth more than £ 5million a year will also have to publish “clear and credible carbon reduction plans” before they are considered, said the Cabinet Office.

The move, which coincides with World Environment Day, is the first of its kind in the world.

This means that all companies that bid on contracts will have to meet the new criteria – not just those that win, a government spokesperson said.

Under the new plans, a plan to reduce carbon emissions must specify where a company’s emissions come from and the environmental management measures it has put in place.

it comes after COP26 President Alok Sharma urged G7 leaders to honor the Paris climate agreement Thursday by reducing emissions enough to limit the rise in global temperature to less than 2 ° C.

COP26 will take place in Glasgow in November.

Speaking to Sky News, Lord Goldsmith, Minister for the Pacific, International Environment, Climate and Forests, said the UK “French” climate initiatives, and other countries are following suit.

“I think the UK is doing more than any country I know of,” he said.

“We call on the major multilateral development banks, like the World Bank, to ensure that every decision takes into account the natural world.”

Listen to and follow ClimateCast on Spotify, Apple podcasts, or Streamer

Lord Agnew of Oulton, Minister for Efficiency and Transformation, said: “The government spends over £ 290 billion on purchases each year, so it is important that we use this purchasing power to help transform our economy to zero net.

“Requiring companies to declare and commit to reducing their carbon emissions before bidding on public works is a key part of our …