NEW REPORT SHOWS HOW BRITISH COMPANIES LEAD THE FIGHT AGAINST CLIMATE CHANGE
| Published: 1st March 2007 22:23 |
A new UK Trade & Investment (UKTI) report highlighting the UK's competitive position in the critical areas of climate change and environmental solutions was launched today by Trade and Investment Minister Ian McCartney. The UK: a world leader in environmental solutions is a business led review by UKTI's Environmental Sector Advisory Group (ESAG).
The report highlights ten main advantages that differentiates the UK from its competitors in the £400bn international environmental goods and services (EGS) sector and provides case studies in each area.
Some of the key points are:
- The UK's higher education system is a leader in environmental sciences with its pioneering work on climate change.
- The UK has a market friendly regulatory system including a much admired Renewable Obligation that requires electricity supply companies to source a percentage of energy sales from eligible renewable sources.
- The City of London is the world leader in financing international environmental projects via the Clean Development Mechanism which that enables companies to undertake projects in developing countries without a Kyoto target.
Combined with the above advantages, UK business has developed a wide range of advanced environmental technologies across the whole value added chain. UK business is respected for pursuing a pragmatic partnership approach tailoring its solutions to the specific needs of the countries in which it operates.
Mr McCartney said:
"The challenge of climate change is rising up the political agenda. Britain is taking a lead in diplomatic efforts to secure international action to tackle the problem. Today's report confirms that our political drive is matched by the determination of British business to lead the world in the technological response to climate change."
"We have a superb science, engineering, technology, education and research base. We have an industrial legacy of skills and expertise and the City of London is leading the way in innovative financing of environmental projects. Our partnership with the Environmental Sector Adivsory Group can help encourage the development of technological solutions for environmental problems. This will not only be good for our planet but, with a $548 billion market up for grabs, it can be good for our economy."
Colin Drummond, Chairman of ESAG and Chief Executive of Viridor Waste, said: 'Climate change and environmental degradation are recognised to be the key challenges facing the world today. What is less well recognised is that the UK is a world leader in addressing these issues. World focus on these issues is playing to the UK's strengths. However we cannot sit back because other countries are seeking to capitalise on the same opportunities. UK PLC should build on its strong position and fully embrace its opportunities worldwide in this field.'
The £25bn EGS sector in the UK comprises 17,000 companies and employs 400,000 people.
