To access our latest press releases, please click here.
Title:
In an open letter to government ministers, published today, the Aldersgate Group argued that "a clearer, stronger signal is needed now for the introduction of mandatory carbon reporting in the UK that is consistent with international standards". Signatories include Aviva, AXA Investment Managers, Biffa, BT, Centrica, Jupiter, Lend Lease, Microsoft, National Grid, Pepsico UK, RSA, RSPB, Siemens, Scottish and Southern Energy, The Co-operative, Veolia, Willmott Dixon, WWF and 30 MPs and Lords. Before the election, the Conservative Party outlined the benefits of carbon reporting and committed to bring forward the date that the largest companies are required to report them. The letter argues that the government should make this commitment before the end of the year. Under the Climate Change Act, the government must legally put forward regulations for mandatory carbon reporting by 2012 or explain to Parliament why this has not been the case. The letter has been published on the same day that WWF-UK and The Cooperative Financial Services publish a new report showing how oil companies are increasing the carbon emissions of their fuels by developing unconventional fossil fuels such as tar sands. 'Toxic fuels: toxic investments' provides the case for mandatory carbon reporting by highlighting how oil companies such as BP and Shell could face billions of pounds in future carbon liabilities as the cost of carbon rises.
The Aldersgate Group (AG) has responded to the DECC information request on 'Reducing Red Tape'.
The Group's letter to Lord Marland reiterates AG's commitment to reduce the regulatory burden for businesses but urges caution to ensure environmental policies are not undermined by the drive to reduce red tape. Regulation is one of the few means of encouraging the economic recovery onto a more sustainable path and a sensible course of action given the current fiscal climate.
Read the full letter below.
1007 Letter to Lord MarlandThe Aldersgate Group supports the report by the Committee on Climate Change, on meeting carbon budgets and ensuring a low carbon recovery, launched today.
Commenting on the report, Peter Young, Chairman of the Aldersgate Group, said: "We welcome the Committee's headline message that greater urgency is needed to meet carbon budgets. A number of the priorities identified by the Committee are also commitments in the Coalition Agreement, such as electricity market reform and the implementation of a carbon floor price. Prompt action will not only reduce greenhouse gas emissions but will be vital for the economic recovery, boosting growth, jobs and competitiveness.
"It is imperative that no-one use the reduced emissions caused by the recent recession as evidence of less urgency to act. Quite the contrary, this is an opportunity to accelerate the transition. The government should seek to set more ambitious targets, specifically by urging the EU to commit to a 30% reduction by 2020."
Peter's comments were quoted in the Guardian and the article can be viewed here.
Committee on Climate Change: 2nd reportThe Aldersgate Group supports the report by the Green Investment Bank Commission, launched today.
Commenting on the report, Peter Young, Chairman of the Aldersgate Group, said: "The Commission's report is consistent with our own analysis which finds that UK climate targets will not be achieved without robust government intervention. We strongly support the establishment of a Green Investment Bank (GIB) to address market failures and rapidly scale up the delivery of a low carbon economy. If implemented quickly, this has the potential to be one of the cornerstone policies of the new government, leading to a more balanced and prosperous economy which the Chancellor underlined last week.
"Capitalisation is rightly identified as one of the priority issues with bank levies and the EU Emissions Trading Scheme potential revenue streams. For the GIB to fulfill its exceptional potential, it will need capitalisation of around £2 billion per year up to 2020. This could unlock hundreds of billions more in private capital investment to build the low carbon infrastructure that is so critical for our economic recovery and future competitiveness."
Green Investment Bank Commission: report
Today the Aldersgate Group (AG) submitted its response to DECC's consultation on "Meeting the Low Carbon Skills Challenge."
The response welcomed the development of a comprehensive low carbon skills framework but emphasised the need for the government to develop this strategy. The full response is attached.
AG Skills Consultation response
A cross party Early Day Movement (EDM) has been tabled by Martin Horwood MP, Tim Yeo MP and Paul Flynn MP to support the AG's Accelerating the Transition report. It welcomes the cross-party commitment for a rapid transition to a low carbon and resource efficient economy and calls for the report recommendations to be implemented by the new government. The AG will be encouraging MPs to sign the EDM over the next few weeks. A link to the EDM can be found here (number 272).
The Aldersgate Group is delighted to welcome new members: AXA Investment Managers, Herbert Smith LLP, Ownergy, SmartestEnergy and WYG Group.
If we want sustainable economic growth and jobs, our financial recovery is doomed to failure if it does not address our environmental deficit, writes Peter Young (Chairman, Aldersgate Group) in the Guardian today
The Aldersgate Group (AG) was one of the signatories to a letter, published in The Times today. This called for the Green Investment Bank (GIB) to be funded by auctioned pollution permits, which could raise an estimated £40 billion by 2020.
The AG has been working with TransformUK, promoting the Green Investment Bank and how it can work. Read the published letter here.
The Aldersgate Group support the Budget announcement for the introduction of a Green Investment Bank.
Peter Young, Chairman of the Aldersgate Group, said: "The new Green Investment Bank is rightly at the heart of the Government's growth and jobs strategy. This will help leverage private sector funds at sufficient scale to deliver a swift and competitive transition to a low carbon economy." "The initial £2 billion of equity is a good start but must be rapidly scaled up over the next Parliament. The total low carbon investment needed by 2020 is at least £250 billion, leading to more secure jobs and a more prosperous future."
Peter Young, Chairman of the Aldersgate Group, is one of the signatories of a letter to the Guardian, today.
The letter calls for the establishment of a green infrastructure bank to support the investments in low carbon infrastructure, low carbon energy and energy efficiency that Britain needs over the next two decades.
Other signatories included Climate Change Capital, Friends of the Earth, Green Alliance, E3G, the New Economics Foundation and Environmental Industries Commission.
To read the full letter, click here.
Peter Young delivered a keynote speech at the SmartestEnergy annual conference today. He outlined the competitive threat posed by the US in attracting investment for green technologies and argued that environmental issues will not be a key battle ground in the General Election.
To read more, click here.
The Aldersgate Group commends the Conservatives' commitment to create Britain's first Green Investment Bank, announced by Shadow Chancellor of the Exchequer, George Osborne MP today.
If sufficiently ambitious in scale, this will help the UK increase its share of the global environmental markets while ensuring it remains a hub for low carbon technology finance.
The UK must adopt an industrial strategy which goes ‘beyond carbon’ to address critical resource efficiency challenges in all areas of the economy if it is to maintain employment and a competitive, sustainable advantage in global markets, now and in the future (see reports section of the website for the full document).
Media coverage includes:
uk.reuters.com
www.greenwisebusiness.co.uk
www.edie.net
www.independent.co.uk
These case studies are the unedited versions of the three examples given in the Aldersgate Group's latest report, 'Beyond Carbon'. As such they contain further discussion on the themes of the report and more suggested solutions.
These views are the product of working groups, convened for three roundtable events. They therefore do not represent the views of the Aldersgate Group, any one individual or organisation. The case studies are intended to provoke thought and discussion.
Beyond Carbon: case studiesAt the launch of the Aldersgate Group's report, "Beyond Carbon", Professor Ekins presented the following slides to the audience.
Professor Ekins' presentationAt the launch of the Aldersgate Group's report, "Beyond Carbon", Dr Eduljee presented the following slides to the audience.
Dr Eduljee's presentationThe Aldersgate Group's work on mandatory carbon reporting was publicly acknowledged at a recent hearing of the Environmental Audit Committee (26th January 2010) by Hilary Benn MP, Secretary of State for Environment, Food and Rural Affairs. He noted that, "one of the things that’s been quite striking in the UK has been the movement within the corporate sector to report – I’m thinking of the Aldersgate Group."
On 8th January 2010 the Group sent a letter to Lord Mandelson which was copied to Mr Benn, calling for mandatory reporting for all large UK organisations, in order to secure greater accountability and transparency.
To view: http://www.parliamentlive.tv/Main/Player.aspx?meetingId=5713
Ed Miliband, Secretary of State for Environment and Climate Change, has hinted that mandatory carbon reporting for UK business could be brought in before 2012, he told the Aldersgate Group.
Reflecting on the outcome of Copenhagen, the Energy and Climate secretary told the Aldersgate Group that UK is determined to deliver the changes needed to transition to a low carbon economy.
UN talks in Mexico at the end of this year are likely to produce the legally binding climate change treaty that eluded negotiators in Copenhagen, the UK’s climate change secretary of state informed the Aldersgate Group.
The Aldersgate Group has written an open letter to Business Secretary Lord Mandelson, calling for greenhouse gas (GHG) reporting to be made mandatory for all large UK organisations as soon as possible.
Over 50 MPs, including Liberal Democrat leader Nick Clegg and Conservative Shadow Climate Change Minister Greg Barker MP, have signed the letter, along with a diverse range of organisations including Aviva, BSkyB, The Cooperative, Barratt Homes, National Grid, United Utilities, BIFFA, Friends of the Earth, WWF and Reed Elsevier.
Lord Mandelson Letter