Business leaders from 13 major U.K. and international companies are offering to support the government in developing new, longer-term policies for tackling climate change. In a letter addressed to Prime Minister Tony Blair, the companies argue that there is a need for urgent action to be taken now to avoid the worst impacts of climate change, and offer to work in partnership with the government towards strengthening domestic and international progress on reducing greenhouse gas emissions. They also pledge to engage other British businesses, the U.K. public and governments and businesses internationally to back this effort.

The group of CEOs and senior executives has come together under the auspices of the Prince of Wales's Business and the Environment Program in response to a challenge issued by the prime minister in his climate change speech at the program's tenth anniversary in September 2004.

In the letter, the corporate leaders say that their main concern is about how they "as business leaders can help bridge the gap between today’s economy and the radically
different low-carbon future that will be needed" to deliver the government’s stated aim of reducing emissions by 60% by the year 2050. The business leaders point out that they and other companies have already made significant investments in low-carbon technologies, processes and products, but say that “what we have done so far is not nearly sufficient given the size of the challenge facing us”. They argue that what is needed is a “step-change in the development of low-carbon goods and services,” and that delivering this will require a strengthening of policy mechanisms, with an emphasis on the careful and focused use of market mechanisms which will minimize impacts on competitiveness. In particular they argue that the Government should work to extend targets for emissions trading policies to 2025 to increase market confidence and reduce the risk of investing in low carbon technology.

The group concludes by offering to work in partnership with the government to:

• Support the development of a world leading climate change policy framework for the U.K., including by advising on policy design and publicizing its support for new policies
  
  
• Influence other businesses, the public, and governments and businesses internationally, including by working on G8 and EU initiatives that are seeking to engage India and China on the issues of climate change and energy
  
  
• Increase its own investment in the development and application of low carbon technologies as new policies are introduced, and acting as champions for such investment by other U.K. businesses

It is expected that the group will meet with the Prime Minister to discuss its recommendations in early June.

Source: GreenBiz.com