Climate Action - Assisting business towards carbon neutrality

Cost or Opportunity?
In a recent Parliamentary debate on the Climate Change Bill Lord Puttnam compared “the dominant energy interests” who argue that hasty commitments to tackle climate change will be economically catastrophic to those who 200 years ago opposed the abolition of slavery. As he pointed out the abolition of the slave trade, in fact, was not only morally right but allowed Britain to leap forward economically.

Many business leaders have long realised that a move to a low carbon economy is not only environmentally essential but brings huge opportunities – even the CBI in its recent report called for a shift to a world where carbon becomes the new currency, and highlighted the UK's unique opportunity to prosper in these key markets of the future.

The Climate Change Bill can be seen as the official UK launch of this new low carbon economy. A statutory framework requiring radical cuts in carbon emissions inevitably leads to policies covering all sectors of the economy – as housebuilders struggling to come to terms with zero carbon houses are already finding out.

To help business understand the implications of the Government’s climate change policies, and how to turn this challenge into an opportunity, Hilary Benn MP, the Secretary of State for Environment is heading the line up at an Environmental Industries Commission conference “The Climate Change Bill: Implications for Business” on the 24 April.

What is the Climate Change Bill?

The Bill will put into statute the UK’s targets to reduce carbon dioxide emissions by 60 per cent by 2050 and 26-32 per cent by 2020, on 1990 levels.

The Bill will introduce a system of five-yearly carbon budgets – starting in 2008 - to meet the long-term targets - a carbon budget will place a limit on carbon dioxide emissions over a specified period of time. In order to provide a degree of certainty for businesses, the Bill will require the Government put into statute three five-year carbon budgets at a time.

The Bill will establish a Committee on Climate Change, which will independently assess how the UK can achieve its emissions reduction targets. The Committee will advise the Government on issues such as the level of carbon budgets; whether or not to make use of the banking or borrowing measures; and the extent to which carbon budgets should be met by domestic emissions reductions versus emissions reductions purchased overseas.

The Bill will introduce powers to make it easier to implement new trading schemes as well as consolidate, and extend trading schemes. The first of these domestic schemes is the Carbon Reduction Commitment (CRC) – a new mandatory cap and trade scheme, under which some 5,000 large non-energy intensive organisations will be required to purchase sufficient allowances either from the auction, the secondary market, or via the safety valve to cover their annual energy use CO2 emission.

Implications for Business

The Climate Change Bill marks a major step forward in the rigour and scrutiny of efforts to tackle climate change and all sectors of the economy are inevitably going to have to contribute.

Beyond the Bill

The mechanisms are already in place for the independent Climate Change Committee to ratchet up the targets in the Bill. Those industries that try to defend the status quo will find a statutory framework makes lobbying to resist change much more difficult. For those that recognise the demand the Bill brings for new products and services the opportunities are huge.

The gun for the start of the low carbon economy has been fired – its time for businesses to ensure they are in the race.

The Climate Change Bill: Implications for Business Conference

The Environmental Industries Commission (EIC) is holding a major new event on “The Climate Change Bill: Implications for Business”.

EIC has brought together a unique line up of the top policy makers, regulators and business leaders to provide delegates with an analysis of the Government’s climate change policy and how it will impact on business.

Speakers include:
•    Rt Hon Hilary Benn MP; Secretary of State for the Environment
•    Peter Ainsworth MP; Shadow Secretary of State for the Environment
•    Gert Jan Koopman; Director of Industrial Policy, European Commission
•    Ben Verwaayen; Chair CBI Climate Change Taskforce and CEO, BT
•    Gareth Philips; Chief Climate Change Officer, Sindicatum Carbon Capital
•    Richard McCarthy; Director General, Department for Communities and Local Government
•    Tom Delay; Chief Executive, Carbon Trust
•    Greg Archer; Director, Low Carbon Vehicle Partnership
•    Keith Clarke; Chief Executive, Atkins
•    Piotr Tulej; Head of Energy, DG Environment, European Commission
•    John Sauven; Chief Executive, Greenpeace

Over 100 delegates have already booked including senior executives from: Anglo American, Barratt, BP, Coca-Cola, E.ON, London Development Agency, Royal Bank of Scotland and Wessex Water. Conference benefits include:

•    Hear from the leading environmental policy-makers in UK and Europe
•    Advance warning of new environmental policy measures that will directly impact on your business
•    First hand advice from business leaders commercially benefiting from the environmental policy challenge
•    Understand the current and future opportunities for the environmental sector
•    Participate in unique forum for you to network with key companies, (potential) partners and customers
The event is kindly sponsored by Atkins and Sindicatum Carbon Capital.
Date and Location:
24 April 2008
Cavendish Conference Centre, London, UK

Conference information:
For full programme and registration please visit http://www.eic-uk.co.uk/ccb.cfm
Registration fee £595 (plus VAT)

The Environmental Industries Commission (EIC), with over 330 Member companies, is the lead association for the environmental technology and services industry. For more details on EIC’s conference: “The Climate Change Bill: Implications for Business” on 24 April go to www.eic-uk.co.uk/ccb.cfm or contact EIC on T: 020 7935 1675