Businesses to make climate pledge
May 1, 2007
More than 1,200 business leaders from across the UK are expected to promise to take action to cut their companies' carbon dioxide (CO2) emissions.
The pledges will made during a summit on climate change, hosted by the Prince of Wales at St James's Palace.
Organisers hope the commitments made at the event will lead towards an ongoing nationwide business effort that focuses on delivering a low-carbon economy.
Progress made towards achieving the pledges will be published on a website.
Delegates at the Prince of Wales's May Day Summit will be asked to make firm pledges to reduce emissions, not only within their organisations but also with their employees, suppliers and customers.
"A number of progressive companies here in the UK have taken a lead on managing their carbon footprint," said Jonathon Porritt, co-director of the prince's Business and the Environment Programme.
"But we urgently need to spread that good practice across the business community as a whole - especially through the supply chain."
'Waking up'
Companies that sign up to cutting their CO2 emissions will receive support from Business in the Community and the Carbon Trust.
Tom Delay, chief executive of the Carbon Trust, said that business leaders were "waking up" to the potential impact climate change would have on their firms.
"The leadership shown at today's summit is essential if we are to accelerate the UK's move to a low-carbon economy," he said.
"The businesses that take action now and deliver low-carbon products and services will be the businesses that succeed."
Last autumn, Sir Nicholas Stern published his government-commissioned review into the economics of climate change.
He warned that failing to curb human-induced climate change would cost at least 5% of the global Gross Domestic Product (GDP) each year.
In contrast, he concluded, the costs of action to reduce greenhouse gas emissions to avoid the worst impacts of climate change could be limited to about 1% of annual global GDP.
In March, the government published its draft Climate Change Bill which proposed a legally binding target of cutting the UK's CO2 emissions by 60% from 1990 levels by 2050.
According to recent estimates, the business sector is responsible for 40% of the nation's CO2 output.
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