Yesterday, the CBI launched its latest climate change tracker, which is an interactive tool developed by the CBI in consultation with CBI members that provides business commentary on green progress made by the UK government and business community.
According to the latest tracker, the UK government is at risk of failing to achieve emission reduction targets despite its ambition.
CBI Chief Policy Director Katja Hall said, "One year on from pledging to be the 'greenest government ever', the coalition has still not delivered the policy landscape needed to ensure we meet tough emissions targets."
The government has made progress in a number of key areas, including providing greater clarity on Climate Change Agreements and funding for the Green Investment Bank.
However, investor confidence remains low, and the UK has fallen from 5th place to 13th in a 2010 global ranking of low-carbon investment conducted by the Pew Environment Group.
The tracker shows that only one of the thirteen indicators is on track. Progress is lagging on the process of decarbonising buildings, transport and industry.
The CBI is calling on the UK Government to take a number of actions in the next six months, including:
• Publish the Electricity Market Reform white paper by July, providing greater clarity on the transitional
arrangements for renewable energy
• Finalise the nuclear Generic Design Assessment and designate the energy National Policy
Statements as soon as is practical
• Incentivise businesses to invest in energy efficient measures by taking action to simplify the Carbon
Reduction Commitment (CRC) and wider issues of policy overlap
• Enact the Localism Bill by the end of 2011 and include provisions to streamline the fast-track
process for major infrastructure and ensure that crucial sub-national infrastructure can be delivered
Please click here to read the CBI's full press release and list of recommendations and here to access the interactive climate change tracker.
China Direct would like to thank Ben Cooper and Alex Fergusson at the CBI's Beijing and London offices for this information.