The Committee on Climate Change (CCC) has called on the UK government to achieve net-zero carbon emissions by 2050 – an ambitious increase from the current plan of 80 per cent of 1990 levels by 2050.
The UK has already shown remarkable leadership in tackling climate change. This leadership status positions the UK to achieve this new and needed reduction in carbon emissions at a pace not thought possible before the 2016 COP in Paris. Low Carbon have always understood that climate mitigation is not mutually exclusive to business development, innovation and growth. Estimations from the Aldersgate Group indicate that the share of the low-carbon economy will grow from 2 per cent of UK GDP today to 8 per cent by 2030 and 13 per cent by 2050. The CCC’s ambitions for the UK are reflected in trends around the world, with over 415 global investors signing up to the 2018 Global Investor Statement to Governments on Climate Change to demand action – these investors alone manage more than $32 trillion in assets and points to the scope of potential finance available for sustainable products and services.