Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

CBI calls for UK Green Transition Industrial Strategy to unlock £57 billion for the economy

by July 17, 2023
July 17, 2023
CBI calls for UK Green Transition Industrial Strategy to unlock £57 billion for the economy

The UK could unlock £57 billion for the economy by 2030 through a green industrial strategy, according to the Confederation of British Industry (CBI).

The CBI has called for governments to be mandated to test policies against the UK’s climate commitments and forcing the Treasuring and Office for Budget Responsibility to provide an estimate from government tax and spending on the climate.

These actions, alongside a new green industrial strategy, could provide between £37 billion and £57 billion of additional economic output, say the CBI.

Rain Newton-Smith, Director General of the CBI believes that launching an industrial strategy can avoid the UK missing out on tens of billions in growth as “businesses believe that the US’ Inflation Reduction Act, the Net Zero Industry Act, and other nations’ ambitious incentive packages developed in their wake, have changed the game.”

“Other nations have recognised the prizes on offer and are rapidly ramping up their own plans and spending to attract the green industries of the future” she added.

Responding to the news, Laimonas Noreika, CEO of HeavyFinance, commented: “Decarbonisation efforts across Europe need to ramp up, not only to unlock the billions claimed by the CBI but to hit global Net Zero goals. Carbon reduction should be a central focus of governments and businesses, promoting action and innovation to drive decarbonisation measures such as retrofitting or promoting sustainable investments such as Article 9 Funds in order to lead more organisations to make a positive climate impact.”

“Article 9 Funds, in particular, can play a significant role in decarbonisation efforts, supporting sectors including agriculture that can deliver sustainable food production through no-tillage farming, reducing emissions while supporting resilient food production. The cost of inaction will only see the UK and major players in Europe miss out on the billions on offer and further fall behind climate targets.”

The news comes off the back of a meeting between Energy Security and Net Zero Secretary Grant Shapps and US Special Presidential Envoy on Climate John Kerry where they called for increased support to developing countries and emerging markets in tackling the climate crisis.

Read more:
CBI calls for UK Green Transition Industrial Strategy to unlock £57 billion for the economy

0
FacebookTwitterGoogle +Pinterest
previous post
Blockchain and the Complexities of Data Ownership
next post
Kemi Badenoch signs treaty for UK to join Indo-Pacific trade bloc

You may also like

How London’s Work Culture is Changing Health Habits

February 4, 2025

Virgin StartUp invites purpose-driven start-ups to enrol on...

April 21, 2023

Ronn Torossian on Driving Consumer Loyalty During the...

October 21, 2022

Mastering Seasonal Marketing Budgets: Sarfraz Hajee’s Strategic Insights...

October 23, 2024

Sterling tumbles as bond yields soar, fanning fears...

January 9, 2025

SurgeTrader Review: A new breed of prop trading...

June 1, 2023

UK SMEs call for policy stability amidst disagreement...

September 21, 2023

5 Tools from our Digital Core Banking Platform...

October 24, 2022

Custom Plastic Components Manufacturer Achieves Full Traceability with...

September 3, 2024

How Microplate Readers help Us live Better

September 13, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • M&S reopens online orders after cyberattack disruption

      June 10, 2025
    • UK payrolls see biggest drop since covid as wage growth slows and job market weakens

      June 10, 2025
    • Why AI and green tech are vital to SME growth in 2025

      June 10, 2025
    • Yes, it’s great to get PR coverage – until it’s locked behind a bloody paywall

      June 10, 2025
    • We have to act now to keep AI from becoming a far-left Trojan Horse

      June 10, 2025
    • SME lending delays slashed by 80% thanks to fintech-driven back-office reform

      June 10, 2025

    Categories

    • Business (8,174)
    • Investing (2,021)
    • Politics (15,580)
    • Stocks (3,138)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved