Dalelorenzo's GDI Blog

JP Morgan and Citi pledge multi-trillion dollar green finance blitzes

JP Morgan and Citi pledge multi-trillion dollar green finance blitzes

Investment banks bolster their environment finance commitments for coming decade in last wave of Wall st. net zero financing targets

US investment banks JP Morgan Chase and Citi have significantly ramped up their environment finance commitments, yesterday launching schedules that would amount to several trillion dollars in sustained and low-grade carbon investment in the coming decade.

In separate bulletins yesterday, Citi has committed to delivering$ 1tr in sustainable finance by 2030, of which half will go to climate answers, while JP Morgan Chase said here today promote and finance$ 1tr in lettuce initiatives by the end of the activities of the decade as part of a major $2.5 tr sustainable finance target. The two banks, which are among the world's largest funders of fossil fuels, both quoted the need to use their significant influence to tackle climate change.

In a blog post on Thursday morning, Citi's head of global public affairs Ed Skyler sanctioned the bank would support a wide array of environment mixtures, including renewable energy, lettuce constructs, sustainable agriculture, and clean-living engineerings, aimed at accelerating the transition to a sustainable and low-carbon economy.

The bank's existing target to deliver $250 bn of environmental finance by 2025 has been ramped up to unlocking $500 bn by the end of the decade, it said.

"Given our world-wide footprint and our capacity in supporting financial undertaking around the world, Citi has a capacity to play in achieving the[ UN] Sustainable Development Goals - and in this moment as we look towards surfacing and rehabilitating from the Covid-1 9 pandemic, it's more crucial than ever that we address these priorities together, " Skyler wrote.

It comes only weeks after Citi announced it is targeting net zero enterprises by 2030 as well as net zero financed emissions by mid-century, amid a gesticulate of climate hopes that have swept US investment banks in recent months.

JP Morgan, meanwhile, yesterday committed to unlocking$ 1tr of such investments for initiatives that accelerate the deployment clean energy and promote the transition towards a low-carbon economy by the end of 2030, as part of a broader $2.5 tr financing programme dedicated to sustainable development.

JP Morgan CEO and chairperson Jamie Simon said the bank was "committed to doing its part" in delivering a low-carbon economy. "Climate change and difference are two of the critical issues of our time, and these brand-new exertions will help create sustainable economic development that should contribute to a greener planet and critical investments in underserved communities, " he said. "Business, government and policy leaders must work together to support long-term mixtures that improvement fiscal inclusion, bolster sustained economic development and further the transition to a low-carbon economy."

The bank, which is the largest in the US by assets, said it would help its consumers "navigate the challenges and long-term benefits" of the low carbon modulation through sustainability-focused, research and advisory services and a dedicated 'green economy' team that specialises on clean-living vigour, economy technologies, sustainable finance and agriculture and food technology.

It follows the JP Morgan's commitment last year to align its financing works with the goals set by the Paris Agreement.

The recent bulletins from JP Morgan and Citi come less than a few weeks after Wall Street rival Bank of America similarly committed to providing$ 1tr in "low carbon investment" by the end of the activities of the decade, as part of its own recently-announced goal of delivering net zero emissions across its financing work, operations and supply chain by mid-century.

Yet such commitments from major US investment banks are unlikely to quell scepticism from green activists, as many of these fiscal monstrous followed up with plough substantial sums of investment into fossil fuel industries. Statistics published earlier this month by the Rainforest Action Network revealed Citi and JP Morgan Chase are the banking sector's most prolific fossil fuel funders, having cater $237.5 bn and $316.7 bn respectively into fossil fuel houses in the five years since the Paris Agreement. Green groups have therefore chosen to bickered long-term climate targets and finance commitments must also be backed by act in the short term to divest from fossil fuel firms.

Read more: businessgreen.com


Net Zero Festival: Michael E Mann confirmed as first keynote speaker

Net Zero Festival: Michael E Mann confirmed as first keynote speaker

Globally renowned atmosphere scientist to deliver opening keynote, as curve of high profile spouses established for the second largest annual Cyberspace Zero Festival

Leading climate scientist and generator Michael E Mann has been confirmed as the first keynote loudspeaker for the Net Zero Festival 2021, as the programme for this autumn's landmark celebration of the net zero transition takes shape.

Mann will speak to BusinessGreen editor James Murray on the first day of a three daytime programme, which kickings off on September 29 th and will bring together some of the world's top business leaders, politicians, academics, and activists to explore all aspects of the net zero mission.

BusinessGreen can today too has demonstrated that the occasion will be hosted by a listing of passing broadcasters, including Krishnan Guru-Murthy, Gavin Esler, and Lucy Siegle. Further talkers and details of a series of virtual and in-person fringe events are to be announced in the coming weeks.

"With a critical mass of governments, municipalities, and corporates pledging to build a net zero emission economy within three decades it has never been more important to fetch people together to explore how best to accelerate climate action and tackle the many barriers to progress, " said Murray. "As such we're delighted to be joined by one of the world's most reverenced environment scientists in Michael E Mann to discuss the true magnitude of the challenge onward and how it might be overcome. His is the first name in what is set to be a stellar fete line up that we will be announcing during the coming weeks."

Now in its second year, the Festival is also drawing on the assistance provided by a raft of high profile spouses that are all working to advance the net zero transition, including cause spouses Schroders and SNC-Lavalin, prime place patrons ENGIE and Bank of America, and Net Zero Fringe partner GSK.

In addition, NGO marriages such as CDP, WWF UK, Green Alliance, the Green Building Council, Bankers for Net Zero, Carbon Tracker, the IIGCC, the UN Global Compact Network, the Zemo Partnership, and many others are also supporting the development of the Festival.

You can now register your interest in attending the Net Zero Festival or staging a fringe contest through the Net Zero Festival website.

The Net Zero Festival is part of year-long series of events exploring all aspects of the net zero transition, which kicked off with the inaugural Net Zero Finance Summit earlier this month and continues on May 27 th with the Net Zero Nature Summit, tickets for which are now available.

"A third of the UK's biggest rostered firms are now committed to delivering net zero emissions and the pursuit of a perfectly decarbonised economy is the top priority for the historic COP2 6 Climate Summit in Glasgow this November, " said Murray. "As such the net zero transition is now well established as the defining trend of the senility for businesses of all sizes and the Net Zero Festival provides a unique opportunity to unite business, policymaker, and activists in discussing how to steer the tumultuous and tremendously eliciting dark-green industrial revolution."

Read more: businessgreen.com


Net Zero Finance: Navigating the booming climate, green and transition bond market

Net Zero Finance: Navigating the booming climate, green and transition bond market

VIDEO: Climate Bond Initiative's Sean Kidney, LaFargeHolcim's Nicolas Vaniet, MSCI's Elisabeth Seep, and Ben Caldecott of the Oxford Sustainable Finance Programme discuss the trends, challenges and potential of the rapidly evolving dark-green bonds grocery

The emergence of brand-new ligaments in support of the net zero transition has is an element of the large-hearted storeys of the past few years, with light-green finance issuance set to surge by 60 per cent in 2021. What are green ligaments - and surely, climate ligaments, modulation alliances, and blue alliances - and why are they important? How can the sector progress to meet the demand? What division can the government play in this market?

To discuss these issues and offer their expert insight on this fast growing sector, Climate Attachment Initiative co-founder and CEO Sean Kidney, LaFargeHolcim's head of fund and front office Nicolas Vaniet, MSCI's executive director for ESG concoctions Elisabeth Seep, and Ben Caldecott, director of the Oxford Sustainable Finance Programme at Oxford University's Smith School of Enterprise and the Environment, gathered together for a fascinating chat at BusinessGreen's recent Net Zero Finance summit. Their conversation can be watched in full above.

All of the panel debates, keynote speeches, and presentations from BusinessGreen's recent Net Zero Finance summit event - which took place on 16 March and featured values of top talkers from business, politics and academia - are now available to watch again on demand for those who have signed up to the incident through the Net Zero Finance website and on Swapcard.

Read more: businessgreen.com


Survey of top business executives reveals fears Covid-19 crisis could stall corporate climate action

Survey of top business executives reveals fears Covid-19 crisis could stall corporate climate action

Business managers from around the world accommodate perspectives on the impact economic downturn could have on corporate sustainability the initiatives in major Deloitte canvas

A survey of hundreds of top business administrations by consultancy beings Deloitte advocates the Covid-1 9 crisis could retard sustainability strategies at firms various regions of the world, despite climate change impacts remaining a major concern within the overwhelming majority of organisations.

A poll of 750 business leaders published this morning by the management consultancy firm has is demonstrated that 65 per cent of executives said their company is required to "cut back" on environmental sustainability initiatives in some way as they strive to handle the fall out from the pandemic.

Despite high-profile announces from across the corporate sector for a 'green recovery' from the pandemic and a glut of net zero deposits launched during the past year, Deloitte's survey highlights how simply 23 per cent of executives polled expected the companies they worked for to ramp up their environmental sustainability plans following the completion of the health and economic crisis.

The revelation from business insiders that sustainability programmes "couldve been" hindered in the wake of the economic downturn comes despite widespread expressed concerns about the atmosphere crisis among business leaders, according to the findings. Some 82 per cent of business leaders described their organisation as either "concerned" or "very concerned" about climate change impacts and 81 per cent of executives agreed or strongly agreed that businesses could do more to protect the environment.

Meanwhile, around 30 per cent of respondents said their company was already starting to feel the operational impact of climate-related disasters.

Michelle Parmelee, representative CEO and director parties and purpose officer at Deloitte Global, described the results of the survey as "mixed", but stressed the findings highlighted the business case for attacking climate change and impelling environmental sustainability "a true-blue imperative for executives".

"On the one side, the pandemic has retarded some of the momentum toward combatting the climate crisis that has been building over the last couple of years, " she said. "On the other hand, there has emerged a newfound sense of determination that if we act now, we can alter the course of climate change and shunned worst-case scenarios case scenarios down the line."

The survey divulges the top four activities being prioritised by companies to combat the environmental emergency are the adoption of public policy importances that promote sustainability and climate change action, work to ensure suppliers and business partners meet specific environmental sustainability criteria, use of more sustainable fabrics, and drilling the board and senior management on atmosphere issues.

Remote working was also identified by business leaders as an act become more prioritised by fellowships as a means to reduce their environmental impact. Some 38 per cent of respondents is demonstrated that their firm had promoted manipulating from home as a means to reduce emissions from passage, up from the 19 per cent recorded in early 2020, before the pandemic interpret empoyees around the world pivot towards dwelling working to avoid the spread of the virus.

Despite the current economic headwinds, the findings highlight how ministerials are universally confident about the future, with approximately 63 per cent of executives claiming they speculated the worst impacts of climate change can be limited if immediate action is made. However, a third of respondents agreed with the statement that the world had "already hit the point of no return" and that it was "too late to repair the damage".

Read more: businessgreen.com


Net Zero Finance: TCFD ASAP

Net Zero Finance: TCFD ASAP

VIDEO: CDP's Paul Simpson, Eversheds Sutherland's Michelle T Davies, PCAF's Giel Linthorst and WRI's Nate Aden explore some of the best practice for assessing and disclosing climate risk for investors and businesses

Reliable climate-related financial information is crucial for markets to avoid a destabilising transition to a low-spirited carbon economy, and vital for investors, lenders and insurers to understand where danger - and opportunity - lies.

Thankfully growing numbers of investors and companies are engaging with the process of assessing and reporting the threats to business posed by the changing climate through the Taskforce on Climate-relased Financial Disclosures( TCFD) - although these guidelines are still far from being universally adopted.

So, at BusinessGreen's recent Net Zero Finance summit, four resulting professionals passing the nature on the agenda items - Michelle T Davies, international Head of Clean energy and sustainability at Eversheds Sutherland; Giel Linthorst, executive director of the Partnership for Carbon Accounting Financials( PCAF ); CDP's CEO Paul Simpson; and Nate Aden, major associate for the World Source Institute's Climate Program - explored some of the best practice for assessing and disclosing risk, the benefits of enhanced reporting for corporates, and the latest reporting mechanisms available for companies and investors.

Their fascinating and immensely informative discussion can be watched in full above.

All of the panel debates, keynote speeches, and presentations from BusinessGreen's recent Net Zero Finance summit happen - which took place during 16 March and boasted compositions of top speakers from business, politics and academia - are now available to watch again on demand for those who have signed up to the happen through the Net Zero Finance website and on Swapcard.

Read more: businessgreen.com


Avoiding a climate culture war: How can the UK maintain broad support for net zero action?

Avoiding a climate culture war: How can the UK maintain broad support for net zero action?

Difficult policy questions lie ahead that could sow grains of partition- but could a 'patriotic sense of national mission' help smooth the path to net zero releases?

Just as the UK perceives itself extending the world's efforts to set out on an epoch-defining economic transition to a net zero economy, the country - from both a political and cultural standpoint - has rarely felt more divided.

The UK is already five years in to a period of significant constitutional agitation, political indecision, and economic headwinds, first from Brexit and then from the coronavirus crisis. These historic challenges, coupled with the sluggish productivity and glaring inequalities that have come to define the 13 times since the global financial crisis, have reshaped age-old political devotions and supported the foundations for the purposes of an escalating culture combat that identifies political and media rivals scrap topics such as statutes, mask-wearing, political correctness, and flag-waving.

Against this volatile backdrop, the political consensus on the need for climate action has, perhaps suprisingly, been generally maintained. Extinction Rebellion's approach to protest and Greta Thunberg's interventions may not have secured universal approval, but political parties across the spectrum still concur with their central meaning - that climate change is an emergency that requires urgent and sustained action. Prime Minister Boris Johnson may have been willing to stoke the culture war on multiple breasts, but when it comes to climate change he has attacked the consensus and sought to position climate action as a central board of his agenda. Meanwhile, the private sector organizations remains more committed than ever to accelerating the net zero transition.

However, one only has to look across The Pond to America to see the constant hazard of climate change and the net zero agenda slipping into the racial war countenance quarry, where striking divisions between the Republican and Democratic gatherings have long held back policy progress. Is there a danger of the same happening here in the UK - of net zero becoming a brand-new territory in increasingly fraught culture combat? For Tim Lord, senior companion at the Tony Blair Institute for Global Change, if political leaders prove self-complacent - if they think it could never happen here - the health risks is a very real one.

"Difficult policy decisions lie ahead which will directly affect the way people live and work, and if they aren't designed and communicated in the right way then politicians gamble leaving the field open for climate change to become a divisive party-political issue, and even weaponised as the next culture fighting, " he alerts. "Support for net zero can be maintained - but action is needed to build and communicate a positive lawsuit for act which reverberates across the political spectrum."

Lord, who has almost 20 years' suffer working on environment, vigor, and industrial program - most recently as superintendent of the UK government's decarbonisation strategy - has co-authored new research for the Institute which today seeks to address some of the crucial political questions circumventing the next stage of the UK's net zero modulation, which will increasingly necessary the direct participation and subsidize of the British public.

Fortunately, the research begins by arguing the present situation is a good one as far as public and political expressed support for net zero is concerned. Assessing various sources of public polling on atmosphere topics in the last decades, including regular study by the Pew Research Centre and the UK government's own Public Attitudes Tracker examinations, it concludes expressed concerns about climate change is at record levels. Not simply that, but unlike after the global financial crisis in 2007 -0 8, that concern has been sustained despite the chao of Covid-1 9. Climate change is now a major issue at the ballot box and, contrary to some media preconceptions, it is not just an issue for certain subsets of voters either, but is of growing concern across all age groups, income levels, and urban and rural areas of the country, according to the report.

In short-lived, politicians can be confident there currently exists strong and sustained desire for climate act right across the board. "Climate change is here to stay as a political issue, " the report states.

Yet that is far from the whole picture. To date, life-styles have been broadly unaffected by decarbonisation that has witnessed the UK cut its emissions in half since 1990. But as anyone in the green economy knows, the second half of that jaunt promises to be much harder, involving tough political choices that instantly alter the public through changes to their transport, nutritions, and home heating. Meanwhile, there are fractures beginning to show in the broad coalition in support of the net zero mission, which in many ways follow the same dividing lines as those between 'Leave' and 'Remain' supporters that has defined British politics since the EU referendum in 2016. Polling indicates socially conservative voters tend to be much less supportive of climate action than more socially liberal voters, and that divide increasingly manifests the bases of the two main political parties in the UK.

Recent debates bordering plans to build the UK's firstly coal pit in 30 years require a case in point. While environmental campaigners and the Labour Party have argued the project will add to greenhouse gas emissions and undermine the UK's climate leadership credentials in the run up to COP2 6, some Conservative MPs have vocally argued that the pit is crucial for jobs and growth in the area. Against this backdrop, the government has flip-flopped on the issue, first tacitly supporting the project, and now launching its examination of the controversial plans.

As such, today's report argues that in order to ensure a long-term political alignment of support for the net zero transition commanders across the political range will need to work hard to maintain it. "Getting this right - developing a unifying politics of the environmental issues that speaks to the concerns of the large bulk of the electorate - is perhaps the most important long-term political challenge of our time, " it states.

For its part, the authorities concerned appears to be considering these risks. Earlier this month two cases of handiwork commissioned by government departments for Business, Energy and Industrial Strategy( BEIS) be issued, one report on net zero public action and participation by Cardiff University's Dr Christina Demski and another which solicited public beliefs on net zero that was carried out by Newgate Research and the University of Cambridge. Both universally support the view that, over the coming decade and beyond, the public may be required to far more directly involved in the net zero modulation than they have been so far, which will in turn necessitate brand-new date approaches from politicians and businesses to avoid pushback and division.

Demski's report warns of a lack of public awareness about many of the challenges required to meet net zero, and warns that high levels of concern about climate change do not undoubtedly translate into committed support for the types of changes that may be required. As a outcome her analysis warns that "overall public date and participation may have the potential to impact the tempo of transmission, cost and success of net zero delivery".

The Newgate and University of Cambridge work, meanwhile, involved a total of 93 participants from across the UK in online research, which sought to identify the easiest and toughest challenges for delivering decarbonisation, as well as how best to engage people with net zero programs. The two most contentious policy areas, it knew, were around vehicle possession and nutritions, with a clear desire among some groups to maintain freedom over choice over how and when they buy a private automobile or feed meat and dairy. Yet such research also emphasized "very limited awareness" among the public of possibilities policies that could be looked at in the course of the year in a bid to reduce carbon emissions.

"Ultimately people wanted net zero to be achieved in ways which respected individual choice and promoted wellbeing, which were seen to be fair in their distributional significance, and which did not limit interpersonal relationships or result in the widening of social prejudices, " it concluded.

Clearly, participation with the public that openly addresses the new challenges, payments, and modifies ahead in the drive to net zero must be at the top of the agenda for the UK government's environment policy, taking the baton from where exercises such as the recent citizens' Climate Assembly UK began.

To do that, Lord today says lessons must be learned from the fallout of the Brexit referendum so as to avoid further polarisation and department on climate act. In particular, he points to the Remain campaign's focus on the economic assertions for EU membership, while the Leave campaign opted for a more values-driven campaigning approach that was arguably more effective. "Similarly now[ with net zero ], you have to think about how are we frisking to a really wide prepare of values, so we're not just talking about the 'just transition' and economic right, we're not just talking about the moral disagreement for atmosphere activity, " he tells BusinessGreen. "I wouldn't dismiss either of those arguments, as they're both important, but they're not going to resonate with a wide enough group of voters for the kind of action that is needed for net zero to be politically sustainable."

Consequently, his report indicates political leaders need to not only strengthen voters' understanding of what net zero actually means for them, but pattern and communicate public policies that appeal to voters with different quality across the growing divide. It also sets out how fears that the transition could adversely affect jobs and communities must also be addressed head on, with clear assurances from political leaders that the mistakes of the past have been learned after the shuttering of industry in the 1980 s without the financing and transitional strategy that could have alleviated much of the resulting economic agony and social dislocation. And it points to the fact that moral and economic controversies for environment action are not enough on their own - instead a "patriotic sense of national mission" should be provoked which places emphasis on regional ownership of climate solutions and ensures that green growth and jobs are delivered "in a way that is meaningful and visible".

Yet bringing patriotism into the realm of climate act also arguably views its own jeopardies. As antagonisms between the UK and EU over AstraZeneca's Covid-1 9 inoculation roll out reveals, national grandstanding can serve to undermine much-needed international cooperation on crisis of world-wide proportions.

Lord, nonetheless, contends a constructive patriotism has a role to play. "Firstly I think what that's really about is climate change being a polity rather than a politics of separation, because patriotism can be about requiring better communities, healthier life-styles and better places, etc, " he says. "And furthermore, a hasten to the top on decarbonisation is undoubtedly a good thing. Some countries have different challenges and strongs in terms of getting to net zero. A patriotic framing of this that introduces a sense of national duty and shared endeavour can be really positive for the orders of the day. The other thing I'd say is that if parties was concerned at excessive patriotism, then a much bigger concern for me would be a world where we haven't dealt with climate change, and what that will do in terms of world-wide geopolitics. Because the disruption to supply chains and some of the unmanaged affects, I see, will be very risky from a political perspective."

As an example for businesses, he foreground General Motors' recent electric vehicle push, which included a major advertising campaign pioneered by Hollywood comedian Will Ferrell that was screened to big audiences during the US Super Bowl. The advert light-heartedly calls for Americans to build driving EVs part of a patriotic mission to catch up with Norway, one of the world leaders on artillery vehicle approval. Interestingly, the ad does not once mention the words 'climate change'.

"I assume that's because GM thinks that is the most effective message for purchasers, and it's an assertion around patriotism, and around the fact that these products are better than the high-pitched carbon or unsustainable alternative, " Lord memoranda. "I think there's a really interesting lesson, or at least a extent of reflection, in there for businesses thinking about how to sell themselves to consumers."

Whether carefully-framed patriotism and national contender is the answer to avoiding a climate culture war and still further political fraction remains to be determined, but it is a compelling argument that - certainly in the case of Boris Johnson's 'world leading' claims and GM's TV adverts - is clearly already being tested out by both politicians and top businesses.

Whatever the answer, with tougher decarbonisation challenges onward, the wider public cannot be excluded from the net zero conversation for long, and ensuring unity of support for climate action is almost certain to become one of the most important missions for policymakers over the next decade. Indeed, the success of the entire net zero project relies upon it.

Read more: businessgreen.com


International Women’s Day: Sustainable business leaders reveal their hopes for ‘a greener, fairer economy’

International Women's Day: Sustainable business leaders reveal their hopes for 'a greener, fairer economy'

For International Women's Day, BusinessGreen spoke to light-green economy chairmen on the nation of diversification in the sector

The pandemic has highlighted how quickly a crisis can disclose and exasperate existing gender, hasten, and class-based inequalities, while also providing a remember of how the climate emergency carries all the same likelihoods, but enlarged. Study upon study has documented how the combined effects of lower average incomes and women's capacity as primary caregivers means they typically bear the brunt of extreme weather events and are statistically more vulnerable to the food, exertion, and irrigate dearths that can be caused by a changing climate. But despite women's position on the atmosphere frontline, persevering structural prejudices imply women's tones and sentiments are often side-lined in discussions and negotiations on climate, force, and environmental issues, at high levels of both international negotiations and neighbourhood delivery.

That said, women have played a central role in 21 st century atmosphere activity. The landmark Paris Agreement was designed and brokered under the leadership and force of various ladies, including UN climate change chief Christiana Figueres and France's climate ambassador Laurence Tubiana. Since then, a demonstrate movement of millions catalysed by Swedish teenager Greta Thunberg has significantly pushed climate up its agenda. Meanwhile, wives are increasingly at the forefront of the growing corporate and investor environment activity progress, from Apple's Lisa Jackson and l'Oreal's Alexandra Palt to Ceres' Mindy Lubber and the Principles Responsible Investment's Fiona Reynolds. And there are a lot, many more maids manipulating behind the scenes on expeditions and plan, in businesses and within communities.

But the rapidly growing green economy has a huge way to go before its gender poise reflects that of society, with the government's initial decision to field an all-male leadership team for the forthcoming COP2 6 climate conference - an imbalance it has now sightly resolved - providing a high profile example of how subjects still predominate many of the key provinces within the net zero transition. The same inequality is abounding in the field covered by green business. In the UK energy sector, merely 12 per cent of architects and 13 per cent of card tushes shall be kept by women, and while the gender pay gap is shrinking, it is still large-scale, with guys deserving on average 17.5 per cent more than women in the same roles. Meanwhile, the overwhelming majority of students opting for discipline, engineering, engineering, and maths( STEM) severities are still boys, with just 26 per cent of STEM graduates in 2019 across the UK maidens .

Similarly, the UK's investor community, which is set to have an outsized influence on the UK's net zero modulation due the key role in stumping the costs of early-stage, high risk climate technologies and financing the lettuce infrastructure onslaught required to decarbonise the UK's energy, structures, move, and manufacture, remains overwhelmingly male. Less than 13 per cent of UK venture capital investment teams are women , and 48 per cent of investment crews have no women at all, according the British Business Bank. It's a gender inequality that risks diminishing progress, given that investment teams with more women and ethnic minorities have been proven to outperform the "male and pale" squads that has all along been reigned the industry.

There is some evidence that gender balance is a bit better when it comes to corporate sustainability roles, but many structural and cultural challenges remain for women in businesses of all types. And more generally, ladies across the UK continue to earn less fund in the same positions as men and do 60 per cent more unpaid domestic works such as cooking, childcare and housework, a gendered subdivision of payable piece the UN has warned has been turbocharged by the pandemic as household chores and care has multiplied.

To mark International Women's Day, BusinessGreen expected some of the UK's climate, vigour, and sustainability managers for their thoughtfulness on the state of diversification within the sector and the importance of female participation and leadership. The picture that surfaces across the board is one of hope and seriousnes. The submissions stress the vital role ladies have recently been played on environment war in the UK and further afield. They emphasise the dark-green economy of the future can only be truly successful and fair if it has been established by a diverse array of parties , noting that any alternative approach runs the risk of producing climate solutions that marginalise parts of the popuation and irritate existing inequalities.

As such, there is an urgent need to boost representation of women and minorities in the ever-growing ecosystem of light-green spheres, firms, and groups driving the net zero transition. As WWF's chief economic advisor Angela Francis set it: "A greener fairer economy is not an abstract concept or a motto, it conveys real improvements in people's lifetimes - in women's souls - and we should be using all of our abilities to deliver it."

EnergyUK chief executive Emma Pinchbeck shared how she hoped her efforts to visibly juggle childcare and her enterprise on Zoom announces could break down preconceived ideas of what leader looks like. Farhana Yamin, foremost environmental solicitor and activist, spoke of being the first girl in her family to go to university and hymned the need for laws and a climate movement that attacks prejudice thought on. PwC climate lead Celine Herweijer - who is to become HSBC's first global sustainability officer later this year - paid tribute to the female commanders that have been at the forefront of the atmosphere fight thus far, and We Mean Business CEO Maria Mendiluce reflected on how successfully tackling the climate crisis would require huge amounts of "generosity of spirit", a characteristic she said had been familiar to female caregivers throughout history.

On this International Women's Day, now they are in their own words 😛 TAGEND

Emma Pinchbeck, chief executive EnergyUK, said:

The energy industry is changing rapidly. As we decarbonise, we will need an increasingly diverse personnel , is not simply to ensure we search more like the society we provide, but because we will need all the good suggestions we can get.

Just 12 per cent of the children of architects are women, so we need more diverse STEM candidates. Similarly, we need to value broader skillsets because many of our tactical challenges are social or political. Dames hold only 13 per cent of the children of executive council posteriors although that has redoubled since 2019. If we want dames to progress in our sector, we need them at the top because you can't be what you can't realize.

I have had the opportunity to put into practise much of what I preach since becoming chief executive in September - an appointment stirred possible by steps to accommodate a breastfeeding mom and flexible hours. I hope there's value in others understanding me juggling my daughter and my career( often visibly on Zoom calls) - after all the gender pay gap - 17.5 per cent in the vigor sphere, according to the ONS - is in part due to women's career routes after having children.

The industry does have measures in place to increase diversity, recent sector considers have included diversity commitments and there are initiatives spanning specific sectors, including Energy UK's own Pride in Energy network and Equality& Diversity Forum.

I am mesmerized to see whether new ways of working in the pandemic will endure, and if they will make it easier for diverse campaigners to progress - something we will be exploring more at our forthcoming Inclusion, Equality& Diversity conference in April.

Farhana Yamin, lawyer, author, organizer, and advisor to the Climate Vulnerable Forum, said:

I was the first woman in my family to go to university. The first to go into a professing, statute, and the first to out earn the three men folk. Not bad for a Muslim and a migrant who came to this country speaking only a few words of English! I was lucky to benefit from a booming 1990 s economy. International Women's Day is a date I take stock of the tremendous strides formed in my lifetime. A likelihood for me to thank the contemporaries who fought for equal opportunities so I could flourish by fighting for regulations like the 1975 Sex Discrimination Act and 1976 Race Relations Act 1976 that fixed the Equal Opportunities Commission. I am living proof that ordinances, and their implementation matter, and make a big difference!

I see my climate work through the lens of these earlier social justice contends to make a better world for everyone. Covid-1 9 and the Black Live Matter changes have uncovered that we are not all in the same boat. For 30 times, I have placed my vigor and endowment to get prone countries and communities who contributed little to climate change and will be impacted most a seat at the top table. They are still excluded from power and struggle to have their voices heard. No-one is voiceless but some are not given the microphone and even then, are ignored by the powerful.

The story of the goal of net zero radiations, of orientating the economy to respect the 1.5 C restriction and support those now facing climate related loss and injury, are the defining social justice struggles of our age. People today forget there was massive resist to movements championing feminism and ethnic equality and often the commanders of these shifts were vilified or labelled as idealists or fanaticals, sometimes both! I am sad to see the same kind of onrushes now on those resulting the fight for climate justice, including our young people, who are asking for the "unrealistic" right to be heard and their own views about climate answers that leave no one behind to be respected. I hope COP2 6 will be a turning point and build us realise the fight for climate justice is just another period in the story of securing equal opportunities and allowing all life to flourish on earth.

Maria Mendiluce, chief executive We Mean Business coalition, said:

I am aroused to see leadership from a growing number of women working to solve the climate crisis. I believe that to solve this crisis, it is essential to deeply convert our economic systems, from meat to force, from mobility to fabrics. No single person, business or country can achieve this alone. It requires a change of attitude and a different adjust of skills which I understand many brides bring to the table: collaboration, ingenuity, magnanimity, fearlessnes and feeling.

Creating a safe collaborative cavity amongst playing businesses to solve the issues that impact their part ecosystems was a core part of my work at the World Business Council for Sustained economic development and continues to be now as CEO of the We Mean Business Coalition. I have is evident that the various kinds of alterations necessary has to be a team effort. Co-creating mixtures and putting the general interest ahead of personal interests has proven to be the only way forward for societies, and certainly for numerous women at all levels in society.

Effective collaboration requires a generosity of intent, a fundamental character of human nature, and one that society has historically demanded of women in particular, with women still carrying the greater burden of domestic and caring tariffs. It was this generosity of being that offset the Paris Agreement possible under the direction of two outstanding leaders, Christiana Figueres and Laurence Tubiana, and many more women managers who are less in the public eye.

The latest discipline tells us that we are surpassing the Earth's planetary boundaries. Air pollution kills one every five people on the planet. We know there is a huge inertia in our global economic systems. But we have no time to lose when it comes to climate change. Courage and spirit are needed to accelerate the speed of alteration. I are confident that more women in leadership situations will transform the way countries, institutions and industries view and act upon these challenges along with implementing solutions to protect the world for contemporaries to come. It's part of their DNA.

With dames disproportionately affected by climate change, it is important to see more female utters on leader programmes being part of the crucial decisions that will determine how we accelerate action to the levels compelled.

Angela Francis, manager advisor of financials at WWF, said:

On International Women's Day, I think it is useful to reflect how we can bring the sum of all our aptitudes - all the diversity of thought and imagination - to bear on the mission of our contemporary, delivering a greener, fairer economy for all. This is certainly a challenge that needs the skills of all of us!

Importantly, a greener and fairer economy will benefit those who need it most; the poorest and more vulnerable globally, those who would suffer most from unchecked climate change and biodiversity loss. Very often that means black and chocolate-brown women in the poorest countries in the world are present in farming and food production.

We know that investing in greening our improvement is the best way to build back better post-Covid in the UK, because it will generate the jobs and business opportunities that make-up us resilient to future shocks and competitive in the net zero and quality restorative economy of the future. The same is true globally, particularly in farming. It's critical for parties and planet that we move from conventional industrial patterns of agriculture that drive climate change and biodiversity loss, to more agro-ecological farm skills. This also has major welfares for the women who work and live in farming parishes around the world.

Not merely are farm workers little exposed to dangerous and deadly pesticides, agro-ecological farming that works with natural organizations necessary knowledge and skills that promote better ownership frameworks and employment opportunities. Agro-ecological farming increases job opportunities and wages, especially for women. Too, various types of harvests and different income streams associated with agro-ecological systems reduce exposure to crop downfalls and pests, and improve resilience, home nutrient security and regional food chains, all of which benefit women.

A greener fairer economy is not an abstract concept or a slogan, it symbolizes real improvements in people's life-times - in women's lifetimes - and we should be using all of our knacks to deliver it.

Dr Celine Herweijer, world-wide climate change leader, and partner at PwC UK, said:

It's been an incredible motivation for me personally to have such strong and superb girl chairwomen at the forefront of tackling the climate crisis over the past decade or two - Christiana Figueres, Rachel Kyte, Connie Hedegaard, Winnie Byanyima, Gina McCarthy, Mindy Lubber. It's tough to words check as there are so many - mediators, generators, scientists, designers, businesswomen - all making a critical contribution. It's great to see gals glinting throughout the climate movement, and I've seen and felt a huge amount of collaboration, approval and camaraderie.

With sustainability now finally, and rightfully, shifted to the boardroom, we need to really pay attention to ensure that female talent goes right to the top. Not unsurprisingly, as with other sectors and industries, female image in atmosphere leadership personas troughs with rank - particularly in the corporate macrocosm. This again glints a light on the systemic challenges of gender diversity in boardrooms and senior leadership more broadly.

Reflecting on International Women's Day and in this important decade of atmosphere act, it's our character, our opportunity and responsibility as female chairmen to show how we can radically collaborate to create change, and as we do so, to "pay it forward" to help those future presidents fulfil their potential.

Juliet Davenport, chief executive of Good Energy, said:

I've been in clean energy for over 20 times and one of its most important things I've learned is the importance of supporting others. Being honest and celebrating other businesswomen's success is a great way to start.

The main barrier to gender diversity in all companies is that it requires systemic changes in culture, manipulate programmes, and financing tiers. Most, if not all, business have the capacity to move economy savings. And any firm with a diversity problem is likely be more inefficient and less innovative. These publications should be central to how any business is run and not treated in isolation.

All business , not just green ones, need to look at career development for women in areas of under-representation. Promoting flexible working for both genders is one way to do this as it recognises that many women's jobs will be enabled if guys take over an equal character in caring for dependants.

The bigger picture is we need to create an inclusive culture where women see energy as an alluring busines option. This starts at a young age, heartening more girls and young women to choose to study STEM subjects which are crucial in the sector. It also signifies showcasing role model and promoting professions across the industry.

Sagarika Charterjee, conductor of climate change at PRI, and COP2 6 high-level advocates team finance conduct, said:

Women leadership has a critical role to play, and there are two reasons. The first is that maidens are more impacted by climate because of the role they have as caregivers; they are more likely to be displaced by flooding, and more vulnerable to extreme weather events. The second is that we need to have women not only factored in, but represented at every single level as we tackle climate change. That implies at the political level, at the technical and scientific level and at the inspirational' hearts and minds' level. We need political digits and corporate board-level climate competency that includes representation of women, and we need the mobilisation that is done on climate change - and the changes we legislate - to very much think about women and include maids as leaders.

Last week we saw Citigroup's brand-new CEO Jane Fraser commit the bank to net zero on her first day. The PRI is still reviewing that net zero commitment, but I thought it was quite a symbolic thing she has done, on her first day. This year we have also seen the US re-join the Paris Agreement, and speaking in a more personal ability, that winning combination of Joe Biden with Kamala Harris enables us to tackle these key challenges in very different ways to what we have over the last few years. The US climate leadership that we are now expecting to see at the Biden climate summit on April 22 and the domestic scale-up in climate policy will enable better cooperation at an international level between the US and with the EU and with EU Commission President Ursula von der Leyen, involving the strong cooperation with China. At the investor level, some of the female supervisors that are extremely influential today are Anne Simpson from CalPERS, who has been the driving force behind CA100 +, and Fiona Reynolds as PRI CEO.

There is a clear need for female presidents to address the climate challenge, so they are represented and gender really is factored in at every single level.

Living in Tottenham[ in northern London ], I was close to Black Lives Matter declarations[ during the course of its pandemic ], which is of course related to this conversation, having regard to the deepened difference that you get from climate and the state effects of climate change. We've seen how susceptible the BAME community has been through the pandemic...

On a personal level, as someone who is a working mum, this pandemic has been rather trying! ... This is very small compared to numerous people's challenges, but we appeared after my sister-in-law's teenagers classifies for three days of the week for one period. It was hard, and of course some people had[ places like] that all the time ... That reinforces, for me, how we need inequalities to be addressed at every level, including for professionals such as myself.

Hege Saebjornsen, country sustainability manager at IKEA UK& Ireland, said:

At IKEA, we are strong advocates for gender equality and diversity. Not only is it the right thing to do, but we recognise that ensuring a diverse and all-inclusive workplace manufactures good business feel and is the only way we will be able to solve the composite and interdependent challenges of climate change.

"I strongly believe that the most diverse a structure, "the worlds largest" its ability to respond to change. Having a wide range of ordeals and aptitude is integral to providing multiple perspectives, events and lore to tackle the changes and challenges our communities and planet face. That is why we need diverse - be that more female and/ or minority - leadership in the sustainability space to provide new ways of theory, behaving, leading and evaluating change.

The climate crisis requires us all, regardless of gender, hasten or sex orientation to step up to the challenge, radically rethink our intake wonts and ensure that sustainability is entwine into every part of our lives. It's merely "the worlds largest" resilient jobs who will survive, and the best way to do this is to bring in those who help us think outside our own box."

Iliana Portugues, head of UK and National Grid Ventures Innovation, said:

Transitioning to net zero by 2050 in a fair and sustainable way requires commitment to diversity and inclusiveness of foresee. We know we need a mix of perspectives, events and knowledge to fully understand and solve complex challenges, and to achieve this we must engage the whole population. However, the vitality industry still has some action to go.

In path with this year's International Women's Day theme of choose to challenge, there's opportunity for commanders to take personal responsibility for gender balance and equality. Industries need to attract and help female geniu by actively spotlighting role models, celebrating women's successes and inspiring young girls to consider STEM. We need to retain this talent by implementing training, improvement and networking programmes to support progress, and commit to all-inclusive practices to produce the whole workforce, each and every individual, on the journey.

Energy and the environment are world-wide existential challenges. It is in our own best interest to have a net zero workforce that truly represents and manifests civilization in order to address them; females are 50 per cent of this equation."

Read more: businessgreen.com


‘Opportunity to reset’: How MPs are urging the Treasury to use tax policy to drive green recovery

'Opportunity to reset': How MPs are urging the Treasury to use tax policy to drive green recovery

Environmental Audit Committee Chair Philip Dunne talks to BusinessGreen about the need for 'a tax system fit for net zero Britain' and the right time to judge whether the government has delivered on its light-green retrieval predicts

MPs are urging the government to use the upcoming Budget to usher in a major alteration of the tax system to align the UK's spending plans with its net zero and biological diversity commitments, alerting experience is running short to deliver on its promise of a dark-green economic recovery from the coronavirus crisis.

Parliament's Environmental Audit Committee( EAC) today launched a wide-ranging report on the government's lettuce recuperation agenda which says major reforms to UK taxation and the speedy release of long-awaited policy approaches will be central to laying the foundations of a greener, job-rich economy that protects nature.

Among a long list of proposed actions, it calls for cuts in VAT for light-green produces, the creation of a new National Nature Service to help protect wildlife, and scoping work to explore the potential for implementing an economy-wide carbon tax and carbon territory adjustments to drive investment in low-toned carbon infrastructure and action 'carbon leakage' from the UK economy.

Other recommendations include urgently delivering clear strategies to deliver new carbon capture and storage( CCS) and hydrogen projects, specifying clear and ambitious targets in the delayed Environment Bill, lay the foundations of domestic EV battery manufacturing at magnitude, and aligning the UK's net zero and sort agendas.

It likewise calls on the government to "rigorously" assess its PS27bn road building programme against the UK's air quality, atmosphere, and biodiversity objectives before individual programmes continue - a recommendation that follows disclosures arising from an on-going law challenge that Transport Secretary Grant Shapps overrode official advice that the controversial program should be reviewed on environmental grounds.

Philip Dunne MP, chair of the EAC, said the Covid-1 9 pandemic was a symptom of the wider environmental crisis the world currently faces, and should be treated as a "wake-up call" for Ministers to set the UK on a far more ambitious pathway to a net zero release, biodiverse future.

"The economic recovery will mold our national economy for decades to come, and it necessary that tackling climate change and rebuilding nature is at its core, " said the Conservative MP for Ludlow. "There will be no inoculation against runaway climate change, and it is our responsibility now, abusing the opportunity of the economic recovery, to set the UK on track for net zero."

The Chancellor is set to deliver the Budget on 3 March, and the EAC implored Rishi Sunak to grasp the opportunity to bring forward a raft of proposals to encourage green behaviour change and drive investment in low carbon engineerings and nature-recovery efforts.

One of the main recommendations in the report centres on slashing VAT on green concoctions for house energy efficiency upgrades and low-spirited carbon construction measures, as well as for repair services and products containing reused or recycled fabrics to boost uptake and investment in circular economy endeavors - a suggestion that was propagandized up the agenda earlier this month with the launch of a brand-new safarus by the Daily Express similarly calling for VAT to be axed on dark-green products.

The EAC also repetition calls for an overhaul and increase for the troubled Green Homes Grant programme, following weeks of negative headlines arising from administrative problems with the arrangement and approval from the government last week that it is withdrawing over PS1bn from the initial budget of the stimulus package.

Further tax motivations is appropriate to be given to ultra-low emission vehicles to boost uptake, while other current environmental taxes - such as Air Passenger Duty - should be reformed in order to better reward and drive efforts to develop greener aircraft technology, the EAC argued.

And, the Committee urged the government to begin scoping work on an economy-wide carbon tax - which it said would be "one of the most economically efficient ways to incentivise low-toned carbon choices" - in addition to looking at the potential merits of carbon territory adjustments.

"A tax system fit for net zero Britain is key, " said Dunne. "It will encourage innovation, give confidence to the sector and patronage a corporation to fix the low-carbon transition. There are endless initiatives that can lead to a greener future and the Chancellor should use his upcoming Budget statement to start this process."

Whether or not the Chancellor will take up the recommendations remains an open question. The report follows criticism from the government's spending watchdog, the National Audit Office( NAO ), last week which accused the Treasury and HRMC of having exclusively a "limited understanding" of how the UK's tax regime patronizes atmosphere and environmental objectives. Meanwhile, political opponents have thrown the authorities concerned for failing to deliver a multi-billion pound lettuce stimulus program similar to those adopted by Germany and France.

As such, calls are growing for the government to deliver on its promised 'build back better' agenda on variou figureheads. The EAC's calls for VAT reform resemble those which have frequently come from a range of business and environmental groups over the past year, such as Green Alliance, the REA, and even the Sustainable Restaurant Association( SRA ), while proposals for an overhaul of carbon pricing program and the urgent verification of a raft of decarbonisation policies have widespread backing from business leaders.

Dunne told BusinessGreen he was looking to the upcoming Budget for the government to set a more ambitious course for a light-green retrieval, as he said there was a need for a "wider debate" about how taxation could be used to support the UK's net zero transition.

"What it is essential to do as we pate towards net zero Britain is to open up a debate across the country about how should tax policy and concedes - incentives as well as retributions - be directed to help people change behaviour, " he said.

Green asset

The report also takes aim at the Bank of England's money programmes, following criticism from green campaigners that in the wake of the first Covid-1 9 lockdown last year the central bank did not place enough 'green strings' to the financial and lend supporter it offered to struggling high carbon companionships, such as airlines.

Going forward, the Bank should therefore ensure it includes climate and nature objectives in future pandemic-support programmes, such as requiring that recipients publicly disclose the climate threats facing their business in line with the Taskforce on Climate-related Financial Disclosure specifications, according to the report. It should also be given a specific mandate to help drive the net zero transition, and reduce the carbon intensity of its corporate ligament portfolio, the report added.

Meanwhile, the report says the government should ensure its proposed National Infrastructure Bank( NIB) escapes a same fate to its effective predecessor - the Green Investment Bank - which was sold off to the private sector in 2017. It calls for an "unequivocal guarantee", potentially in law, that the NIB will remain a populace academy for the long term, adding that it should be given a mandate to promote projects focused on nature recovery, in addition to its proposed net zero mandate.

'Opportunity to reset'

The government has repeatedly sought to position its pandemic recovery plans as an opportunity to build a greener economy, particularly given the UK is set to co-host the critical COP2 6 UN climate change summit in Glasgow later this year. Last-place time, the Prime Minister Boris Johnson promised to "build back better" from the crisis, before unveiling his 10 Point Plan for a Green Industrial Revolution in the autumn.

But amid several adjournments to crucial cyberspace zero programs - such as the Transport Decarbonisation Plan - as well as the contentious withdrawal of funding from the government's flagship Green Homes Grant scheme last week, environmental groups have questioned the Treasury's commitment to delivering a genuinely dark-green recovery.

"What such reports to consider ways to point towards is that some things[ the authorities concerned] have doing well, and some things they may have been disconcerted and haven't gone to plan, " reasoned Dunne. "So there's an opportunity to reset and get back on board."

Caterina Brandmayr, head of climate policy at Green Alliance, said the EAC's report "rightly articulates the spotlight on what the government still needs to do to deliver a light-green recovery".

Harnessing the Budget and forthcoming net zero strategies to deliver an environmentally responsible stimulus would "benefit businesses and communities across the country, and ensure the UK is seen as an environmental world leader as it prepares to host firstly the G7 and then COP26", she said.

Responding to today's EAC report, nonetheless, the authorities concerned vowed it was committed to a light-green retrieval, and foreground its plans to launch the UK's firstly sovereign light-green attachment this year and acquaint mandatory climate danger revealings across the economy by 2025.

"We're committed to building back better and greener from the pandemic, which is why the Prime Minister's Ten Point Plan will employ the UK at the forefront of the world-wide lettuce industrial coup and make hundreds of thousands of green occupations, while the Treasury's Net Zero Review is examining how the transition to net zero should be funded, " the government said in a statement.

Green homes award fiasco

But concerns and confusion continue to surround the government's flagship programme that was meant to be at the heart of its much-trumpeted 'green recovery' agenda.

The PS1. 5bn Green Homes Grant scheme was launched last-place summertime in a bid to provide discount vouchers that would reduce the cost of energy efficiency modernizes on homes. However, the arrangement has suffered from a multitude of difficulties from the beginning, with entrants facing administrative hurdles in accessing the programme and procure accredited tradespeople to carried out under the residence refurbishes, while there have been reports of installers themselves losing money, faculty, and business due to late pays through the scheme.

And in a surprise move last week the government sanctioned plans to remove potentially over PS1bn from the scheme's budget that remains unspent by the end of March. The authority blamed householders' reluctance to have tradespeople enter their homes as the primary motive of the Green Home Grant Scheme's travails, but this explanation was roundly disagreed by business groups and political opponents.

The EAC has kept a close gaze on the scheme, earlier this month revealing simply over 21,000 vouchers towards the cost of home improves have been issued to date, a fraction of the government's ambition to hand out 600,000 lettuce improvement vouchers.

Dunne too told BusinessGreen that in the evidence he had seen from applicants to the scheme nobody had cited Covid-1 9 frights related to installers participating their residences as a core problem. "The fact that merely a third of those applying for vouchers have had them approved tells a slightly different story, " he said.

For its part, the government said it would "continue to bring forward bold measures to cut emissions, with plans to invest PS9bn in improving the energy efficiency of buildings forming part of our wider commitment to end our contribution to climate change by 2050 ".

However, while BusinessGreen has repeatedly sought to confirm whether or not the government's goal of improving 600,000 residences through the Green Homes Grant scheme remains in place given its drastically reduced budget, BEIS has yet to provide clarification.

The EAC today therefore reiterated its demand for the authorities concerned renovation the anxious arrangement, and give it beyond its current March 2022 cut-off date in order to provide businesses and householders the long-term certainty they need to hire and train additional installers and submit applications for vouchers.

Fund evaluation

Whether the UK government can deliver a truly light-green convalescence from the current economic crisis remains to be seen, but with its leadership on climate change under the spotlight in the run up to COP2 6, it will be under significant influence to back up its encouraging 'build back better' rhetoric with discernible activity. The latest controversy over the Green Homes Grant, recent failures scrutinizing this reputational impairment incurred by allowing the progress brand-new coal mines, and the huge pipeline of long-awaited light-green policy decisions, have all served to undermine confidence that Minister have the key priorities straight-out, with the Treasury widely considered to be one of the key barriers to the development of a believable light-green recovery strategy.

For Dunne, however, the window for action is still open, and the coming weeks and months now offer a critical opportunity to set the government's recovery efforts on an daring lettuce track. The upcoming Budget and following few months therefore look set to provide the clearest exam hitherto of whether the government's light-green recovery predicts will be met.

"That will be the time to assess how effective[ the government's endeavours] ought to have, " said Dunne.

Read more: businessgreen.com


Cumbria Council to reconsider controversial coal mine approval over climate concerns

Cumbria Council to reconsider controversial coal mine approval over climate concerns

West Cumbria Mining's plan to open UK's first coal mine in 30 years to be reviewed 'in light of new information', says committee

Cumbria County Council is reconsidering its contentious decision to approve plans for the UK's firstly brand-new coal mine in 30 years "in light of new information", it has announced that, citing greenhouse gas radiations projections published by the Climate Change Committee late last year.

Plans to build a metallurgical coal mine on the Cumbrian coast near Whitehaven have been the subject of intense debate in recent weeks after the government opted against bar the project in spite of widespread very concerned about an influence on the UK's climate goals.

Cumbria councillors initially granted permission for West Cumbria Mining's plan last-place October, insisting coal was still needed for steelmaking in the UK, and that it could still go ahead within the UK's carbon budgets while also creating jobs in the region.

However, environment activists have long disagreed a new coal excavation will generate significant greenhouse gas releases while eroding the UK's climate leadership credentials as the co-host of the crucial COP2 6 global UN climate change summit in Glasgow last-minute this year.

The project looked to have progressed the final impediment after Communities Secretary Robert Jenrick decided against calling-in the council's planning decision for its consideration in January, debating the matter should be decided upon locally - a decision that inspired irritable commentary from dark-green groups and consternation within the government's COP2 6 team.

The UK's independent advisory body the Climate Change Committee( CCC) also wrote to the government last-place month setting out its concerns about the Cumbria coking coal project, reckoning the project wold release more emissions than all of the UK's existing coal pits developed in partnership through to 2050. It too told standing the coal pit to go ahead risked creating a "negative impression" of the UK's climate priorities in the run up to COP2 6.

But in a scandalize announcement today, Cumbria Council said it now plans to review its initial meaning decision last-place October "after the receipt and consideration of new information" published by the CCC in December as part of its most recent report on how to deliver the UK's net zero target.

"This decision has been taken because in December 2020, the government's Climate Change Committee released its report on its recommendations for the Sixth Carbon Budget, a requirement under the Climate Change Act, " Cumbria County Council's statement today reads.

The statement suggestions at concern that emissions generated by the Cumbria coal mine project could blow a pit in the UK's statutory climate change targets for the mid-2 030 s.

"The report, among other things, sets out a number of the publication of greenhouse gases the UK aims to emit during 2033 -2 037, " the statement continues. "This new information has been received prior to the issue of the formal decision notice on the employment. In light of this the council has decided that the planning application should be reconsidered by DC& R[ Development Control and Regulation Committee ]. "

The tale has threatened to become increasingly embarrassing for the government, which is simultaneously seeking to persuade countries around the world to commit to phasing out coal power in order to help meet international targets agreed for the purposes of the Paris Agreement.

The Minister of Housing, Communities and Local Government was considering BusinessGreen's request for remark at the time of writing of going to press.

The CCC, meanwhile, declined to comment on today's announcement. However, lettuce radicals warmly welcomed the Council's statement, which follows increasing pressure from campaigners and scientists, as well as significant media coverage over the issue.

Just last week, more than 70 of the UK's largest environmental groups wrote to Prime Minister Boris Johnson urging the government to reverse its decision not to call-in Cumbria council's proposing approval.

Greenpeace UK's chief scientist Doug Parr said that should the Council end up blocking the coking coal mine after all it would be a "very welcome" U-turn.

"It's absolutely right that the county should reconsider a blueprint for a new coal pit in light of evidence demonstrating how damaging this would be for our environment, and for the UK's international reputation, " he said. "Any such switch does not let the government off the hook though. Ministers should be ashamed of their failure to step in on an issue of obvious international significance. Even if the coal quarry is canned by Cumbria, "thats still" a world-wide shame for the UK in a year when we were supposed to be setting an example on climate war for the world to follow."

Labour's Shadow Business Secretary Ed Miliband also welcomed Cumbria Council's decision to review the coal pit project , noting that this now generated the authorities concerned another opportunity to block the project.

"The government now has a second chance to do the right thing and call it in, " he said. "The UK cannot claim to be a climate leader whilst opening a brand-new coal quarry and Ministers must realise that by doing so they subvert our credibility both at home and abroad."

Miliband, an instrumental figure in getting the Climate Change Act into ordinance when he was Energy and Climate Change Secretary in 2008, too argued that the proposed mine was not needed to support UK's iron and steel industry , mention 85 per cent of coal product from the project is earmarked for export.

"Labour is determined to safeguard the UK's primary steelmaking capacity and provide the industry with a stick long-term future through the kind of financial support that other countries are offering, including support steel make a fair transition to a dark-green future which precautions jobs, " he said. "People in Cumbria deserve good, lock jobs and there are so many crying out to be done in the dark-green manufactures of the future."

West Cumbria Mining, the company behind the coking coal quarry propose, has been contacted for criticism. Preaches of the mine have consistently argued that it would change imported coal used for steel-making and as such could result in lower radiations overall. Nonetheless, antagonists of the mine have raced this analysis, arguing the UK needs to transition away from the use of coking coal if it is to meet its long term emissions targets.

Read more: businessgreen.com