The coronavirus crisis is expected to have a huge impact on the country’s economy, industry and employment, with a huge number of businesses having had to remain shut for the last few months.
However, one way to get the nation back on track is by adopting more renewable energy strategies, according to the Confederation of British Industry (CBI).
The organisation revealed a new report entitled ‘Principles for a low-carbon, sustainable and net-zero aligned economic recovery post Covid-19’. This includes ideas such as launching low-carbon programmes, cutting emissions and introducing smarter regulation for a green recovery.
Matthew Fell, chief UK policy director for CBI, said these approaches would not only help the economy recover but also play a part in tackling the climate crisis the world faces.
“Sustainable growth is the centrepiece of plans to build back better post-pandemic. So let’s start by fast-forwarding policies like a mass energy efficiency programme and building new sustainable transport infrastructure,” he stated.
Mr Fell went on to say: “These steps can both help to reduce emissions and provide the kind of jobs and investment stimulus the economy needs for the longer term.”
The report sets out proposals, including prioritising spending on low-carbon programmes that provide short-term economic and social benefits; delivering fiscal commitments from the Budget to leverage investment and reduce emissions; implementing clear policy to drive green energy investment; building foundations to ensure sustainability is built into the foundation of financial mechanisms to support companies recovering from the crisis; and accelerating the co-ordination of a global response.
This includes increasing its efforts to develop frameworks to encourage reducing carbon emissions across different sectors.
A recent report from Ernst & Young revealed more investors are becoming interested in supporting the UK’s renewable energy projects, with Britain being named the sixth country in the biannual global survey of investors’ rankings.
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