More than 200 UK businesses across energy, finance and other sectors have signed a letter urging the UK Prime Minister Boris Johnson and his government to deliver a clean, inclusive and resilient coronavirus recovery plan.
Chief executives from across the UK economy have offered support to the government in tackling the pandemic, while requesting the UK leader to provide “clear vision” for recovery efforts that align with the UK’s wider social, environmental and climate goals.
In the letter the signatories stated that 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 letter’s UK CEO and managing director signatories include Eon UK’s Michael Lewis, Engie’s Nicola Lovett, Glennmont Partners’ Joost Bergsma, London Pensions Fund Authority’s Robert Branagh, National Grid’s John Pettigrew, Ramboll’s Mathew Riley, SSE’s Alistair Phillips-Davies, The Climate Group’s Helen Clarkson, ScottishPower’s Keith Anderson and Shell UK chair Sinead Lynch.
Signatories span sectors including banking and investing, construction, retail, manufacturing as well as energy.
The letter, signed by 206 businesses, investors and business networks, stated: “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 letter continued, “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 signatories have called for a plan that can “drive investment” in low carbon innovation, infrastructure and industries, as well as improved resilience to future environmental risks, and focus 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.
The plan must also include within financial support packages “measures to ensure receiving businesses are well managed and their strategies are science-based and aligned with national climate goals”.
The signatories have acknowledged the climate leadership of the UK and call for “continued ambition” to drive action towards next year’s COP26 summit and the G7, which will both be hosted in the UK.
Lloyds Banking Group chief executive Antonio Horta-Osorio said: “We have all experienced the devastating effect that Covid-19 has had on our families, communities and businesses. We must make this experience count by working together to tackle the impacts of climate change.
“Financial services has an important role to play, working with others to finance the solutions that will accelerate progress.
“That’s why we’re supporting this call to put low carbon growth at the centre of the economic recovery. Working together we can build a cleaner, greener and more resilient economy for the whole of the UK.”
ScottishPower chief executive Keith Anderson added: “Economic and environmental objectives are aligned today as never before, highlighting the urgent need for a green recovery to the current crisis.
“The UK Government’s recovery plan should recognise this and put us on track to deliver the 2050 climate target. As the first integrated energy company in the UK to generate 100% renewable electricity we are ready to accelerate our investment in powering a clean recovery that helps create jobs, support communities and tackle the climate crisis.”
National Grid chief executive John Pettigrew said: “We’ve estimated that the energy sector alone will need hundreds of thousands of new recruits as we work towards Net Zero and believe that an economic recovery with climate action at its heart will be key to unlocking these opportunities.”