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Green future should be the focus for businesses

26th May 2021

The Confederation of British Industry (CBI) has urged UK companies to channel their energies into achieving a green future through sustainable practices and to move on from the distractions of Brexit.

The business membership group has predicted that the change of focus, with the aid of government support, could bring a £700 billion boost to the economy by 2030 and create 240,000 new jobs.

The CBI report, titled ‘Seize the Moment’, sheds light on how firms can work towards a long-term economic plan.

The report details how the Government should look to facilitate a greener future that will optimise the growth of businesses through four key initiatives:

  • Delivering a decarbonised power system
  • Accelerating progress in cutting emissions
  • Secure a growing share of low-carbon exports
  • Ensuring the UK remains a global hub for sustainable finance

CBI Director, Tony Danker, believes businesses should embrace these ideas to benefit their own development, whilst moving on from distractions such as Brexit:

“For the last five years businesses and government have been at odds. Brexit was very divisive. But after the events of the last five years, we find ourselves in total alignment about what needs to be done…Governments don’t create jobs. Governments don’t prepare people in the workplace for the skills of the future. Governments don’t suddenly invent new carbonisation technologies. That’s what businesses do.”

Amid the threat of the COVID pandemic, the Government pledged £12 billion to a ‘Green Industrial Revolution’ in November 2020 which set out a path towards net zero. The topic will also be a key point of discussion during June’s G7 Summit hosted in Cornwall.

The CBI stated that a green push had arrived at the right time for businesses looking to recover from the pandemic-induced recession.

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