Placeholder image

Businesses told they can be green and profitable

July 5, 2012

Confederation of British Industry (CBI) publishes report calling on UK politicians to adopt more green initiatives to boost GDP.

The new report by CBI Director General John Cridland, titled “The colour of growth: maximising the potential of green business”, claims that the Government does not have to choose between going green or going for financial growth, and urges politicians to adopt a smarter, more consistent approach to energy and climate policy.

The business group has conducted research that reportedly shows that the UK has the ability to become a global leader in low carbon products and services, which could potentially be adding an extra £20 billion ($3.1 billion/€2.5 billion) in annual GDP by 2015.

Speaking in July in the City of London, Cridland commented “The so-called “choice” between going green or going for growth is a false one. We are increasingly hearing that politicians are for one or the other, when in reality, with the right policies in place, green business will be a major pillar of our future growth.

“With something like a third of all our growth accounted for by green business last year, the UK could be a global front-runner in the shift to low-carbon. In the search for growth, we’re digging for goldmines – and one of them is green. “

CIB analysis suggests that green business activity currently employs around 940,000 people in the UK and may have accounted for over a third of all UK growth in 2011/12, with growing economies such as China being particularly receptive to buying the country’s green exports. It also estimates that a green business slowdown could cost the country £400 million ($623 million/€501 million) in net exports in 2014/15.

The CIB has listed 10 recommendations for the UK Government to consider with regards to green business, including playing a stronger role in Europe and internationally by being at the forefront of shaping the future of the EU Emissions Trading Scheme and global climate negotiations, reducing the complexity of the existing low-carbon policies and taking a more strategic approach when developing future policies.

“We must cut green tape and pay attention to competitiveness,” Cridland warned, “There is no need to create losers in the low-carbon transition, but at the moment we are endangering our energy-intensive businesses. If we don’t take a smarter policy approach, not only will we miss out on growth opportunities, we could also undermine the very industries that should be at the heart of our low-carbon economy.”

Categories : Products and Technology

Tags :

Leave a Reply