Calls for the Government to take urgent action on moving to a low carbon economy have come from the CBI and the Environmental Industries Commission. Comments from these two organisations follow the Governments Low Carbon Industrial summit held today.
CBI director general Richard Lambert said it was time for action as legislative framework for climate change policy was in place. He said the Governments job was to create an investment friendly climate to encourage the enormous investment of private capital required to build a low carbon economy.
Lambert said: With stretching but credible targets to aim at, business will then create the products and services necessary for the new economy. Together with government, it will empower consumers to make the choices that will deliver the green agenda.
He said the UK must show a greater sense of urgency to grasp the opportunities ahead.
EIC chief executive Adrian Wilkes pointed to the Budget in April as the first opportunity the Government has to act.
He said: EIC is calling for the Budget to include an ambitious green economic stimulus with, at the very least, a £10 billion Green Jobs Investment Fund that can start turning the Governments vision into reality.
Wilkes said new markets would open up worldwide as other countries make the transition to low carbon. Governments that gain early mover advantage by developing green technologies to guide this transition will soon be in a position to claim a share of what is already a $3 trillion global market place - and growing rapidly at over 5 per cent a year, he added.
EICs Green Jobs Growth Strategy launched earlier this year sets out policy recommendations to put the UK at the forefront of this opportunity.