Regulatory reform needs to recognise economic benefits of ambitious climate and environmental regulations

In response to the report produced by the Taskforce on Innovation, Growth and Regulatory Reform, Signe Norberg, Head of Public Affairs and Communications at the Aldersgate Group, said: “Regulation is a vital part of ensuring the competitiveness of UK industry, creating jobs, increasing innovation and driving investment in crucial technologies and goods. We welcome the Taskforce’s recommendation on reforming the UK regulatory framework for energy generation and distribution in line with the Government’s climate ambitions. However, while the report examines areas to modernise regulation and highlights important areas of innovation, such as transport, energy and finance, it fails to adequately incorporate Government’s environmental objectives and net zero ambitions, which will be essential to ensure that the UK builds back greener and creates a green industrial revolution.”

Signe Norberg added: “Businesses support ambitious, forward looking, well joined-up and properly enforced environmental regulations, policies and market mechanisms. [1] They are essential to creating a stable environment in which businesses can invest. Previous regulatory efforts have been insufficient in assessing wider social and environmental impacts [2], and to ensure we meet our objectives it is crucial that climate and environmental objectives are placed at the heart of the Government’s regulatory reform agenda.”