Tuesday, 10 July 2012, 3:38 PM
The Director-General of the Confederation of British Industry (CBI) said on 5 July that with the right policies in place ‘green business will be a major pillar of our future growth’, and that the UK government should no longer distinguish between ‘going green or going for growth’. The remarks were made at the launch of the CBI’s new report, ‘The Colour of Growth: Maximising the Potential of Green Business’.
The report found that green business currently employs around 940,000 in the UK, may have accounted for over a third of all UK growth in 2011/12, and that low carbon products and services could add £20billion to annual GDP by 2015. But the report also suggested that the Government’s current approach could risk a green business slowdown that could cost the UK £400million in net exports in 2014/15.
Speaking at the launch of the report, the CBI’s Director-General John Cridland said that "the UK could be a global front-runner in the shift to low-carbon", adding that the "so-called "choice" between going green or going for growth is a false one". He continued:
"The UK has made a great start tapping into green economic opportunities but mixed signals from the Government are setting the UK back. If we can’t be sure that the policies of today will still be the policies of tomorrow, we simply won’t build business and consumer confidence or secure the investment we need."
The CBI’s report includes 10 recommendations for Government on green business that centre on developing strong political leadership, a more coherent, strategic policy framework that focuses on building confidence, reducing complexity, and strengthening competitiveness. Recommendations include:
- Ensuring that the ambition of the 4th Carbon Budget is maintained, if underpinned by a smart policy framework, and matched with consistent messaging from all parts of government.
- UK Government to play a strong role in Europe and internationally.
- Ensuring that market signals – particularly within the reformed electricity market – have stability and longevity.
- Working collaboratively with business to ensure the right mix of incentives and regulation, together with clear and consistent information, are in place to drive demand in emerging markets such as the Green Deal.
- Cutting “green tape”, including immediate action on the Carbon Reduction Commitment.
Read the full CBI report The Colour of Growth: Maximising the Potential of Green Business
and the related press release