We Mean Business launched a report, The Business End of Climate Change, at the Business and Climate Summit in London today, which shows business could cut emissions by more than half by 2030. The report states that total emissions pledged by countries at the Paris Climate Change Summit (COP21) could be decreased by 60%. Low Carbon, a renewable energy investment company, has responded to the study.
Louise Ward, investor relations director, Low Carbon, said: “These figures from We Mean Business reinforce the fact that the UK must continue to create a positive investment climate for renewable energy technologies for businesses, as an alternative to investments in fossil fuels. Solar panels and wind turbines generate electricity all year round, and these investments can stand up for themselves financially as well. They are typically long-term, inflation-linked contracts, generating attractive, stable returns.
“The UK has a responsibility to meet its 2020 emissions targets in what is a global effort to reduce carbon emissions and we believe that we must achieve a true low-carbon economy to do so. Investment in renewables is indispensable to this process and goes hand-in-hand with the cultural shift that we need to take place, where we reduce our reliance on fossil fuels.
“A broader, more diverse energy mix in the UK which includes solar and wind, for example, will not only benefit our environment but will also enhance the sustainability of our energy industry as a whole, making sure we don’t trail behind other countries in Europe and globally who already have this as a priority. According to The Department of Energy and Climate Change (DECC), renewable energy accounted for 24.7% of total electricity generation in the UK in 2015, which strongly suggests that renewable energy is a core, resilient electricity source that is here to stay.”