The conversation on regulation and policy is broken. It should be a powerful means for delivering accelerated decarbonisation and climate adaptation on the way to net zero. Instead, focus remains on targets, disclosures and innovation. Without an appropriate policy and enforceable regulatory environment, investment in technological solutions stalls and targets will remain merely that; targets.
Numerous examples illustrate lack of needed regulation, rolling back of policy or indeed, weak enforcement of existing regulation, leading to significant delay to the UK’s intention to decarbonise its economy. A wavering government with an unaligned Treasury department heavily influenced by legacy industries, have intentionally and successfully slowed decarbonisation.
The UK business community knows it must be serious about its role in calling for an altered policy and regulatory environment that will allow ‘UK Plc’ to meet its legal obligation under the Paris Agreement and prepare for the coming disruptive transition. And business leaders recognise that they cannot do it by themselves. 82% of UK business leaders agree that governmental intervention is needed so they can do what ultimately is in their own commercial self-interest and deliver on the net zero transition. But for this to be possible, focus needs to shift from self monitoring to enforceable regulation. The silent business majority must publicly state that free markets alone cannot solve the climate crisis
Let\’s go!
