 Don't mess about, UK plc tells government UK plc demands swift action on Stern
November 14th 2006 While the publication of the Stern report two weeks ago has raised eyebrows internationally, it has spawned a raft of responses domestically.
The Royal Academy of Engineering naturally prescribed engineering and market incentives as the best course of action – and said it was an opportunity for the UK to develop and export technological solutions. Chief executive, Philip Greenish, called for an incentive-based approach, an effective European emissions trading scheme, a revision of the tax system to penalise the biggest polluters, better building regulations and planning and swift action.
“The Government should also come to a quick decision on the future of nuclear power and the disposal of nuclear waste,” he said. “Prevarication is no longer an option.”
Other calls for swift governmental action and market friendly solutions came from the finance sector. Alain Grisay, chief executive of one of Europe's largest asset managers, F&C, said the investment community was well placed to fund the shift to a low carbon economy, but needed firm indications from policy makers.
“This is an unprecedented opportunity to generate real value for our clients by financing this shift,” he said. “The imperative now is for a sensible framework that gives business and investors the confidence to plan ahead. The sooner we know what the rules will be, the sooner we can act."
CBI chief, Richard Lambert, echoed those sentiments, urging rapid global partnerships and an international system of carbon trading.
Although the government’s appointment of Al Gore as a global warming advisor has raised eyebrows further, London Mayor, Ken Livingstone, said he looked forward to working with him and others to give London a leading role in developing and deploying low carbon solutions.
The British Property Federation responded to the report by highlighting its work with the Carbon Trust to develop a blueprint for assessing landlords' energy consumption that will in turn enable the assessment, benchmarking and improvement of a building's energy performance. Chief executive Liz Peace there is a neeed to make the cost of carbon more obvious to business, and hopes the final toolkit can be used to support national implementation of the EU Energy Performance of Buildings Directive
• A week prior to Stern’s publication, risk management firm, acclimatise, released a report detailing the business community’s exposure to climate change. Produced in association with the UK Climate Impacts Programme, responses of 165 FTSE 350 companies suggested British business is failing to adapt to climate change.
Report author and acclimatise MD, John Firth, says companies that incorporate a rigourous analysis of their climate risks into their business planning can reassure investors that they are taking a a balanced approach to future development. However, he warned that: “Directors, fund managers and all those engaged in giving professional advice face an increasing litigation liability if they fail to build climate change into decision making.”
The report is available for download at www.acclimatise.uk.com More articles from WEE News Desk: | 
