Whilst we welcome a renewed effort in the battle to tackle climate change, the scrapping of DECC (Department of Energy & Climate Change) has caused alarm for industry leaders and experts.
Having climate change policy fall within a wider remit of responsibilities would suggest that Whitehall are downgrading the status of climate change.
Alternatively, the creation of BEIS (Business, Energy and Industrial Strategy) could elevate climate change issues to a much higher level politically. Arguably, the UK’s decarbonisation efforts could be bolstered by implementing significant changes in business and industry, shaped by the same policy leaders.
It’s important to stress that we can only speculate, but this is clearly a disruptive major change.
In the aftermath of the decision to scrap DECC and before the fully formed creation of BEIS, we need to consider the success of the former. DECC has delivered some truly remarkable achievements; carbon emissions have fallen drastically and consistently, investment in clean energy has hit record levels, and the phasing out of coal has taken a considerable step forward.
Government backing is essential to fully realise a sustainable future
Is that progress threatened? This absolutely has to be an opportunity to create strengthened environmental laws, with mechanisms and structures that are robust and void of party politics to reverse the effects of climate change. More than ever we urge a cross-party collaborative approach dedicated to shaping priorities and ensuring outcomes.
Triodos Bank has seen the growing public support, investment and confidence in the multi-billion pound green economy and believes that despite its resilience, Government backing is essential to fully realise a sustainable future.
The UK has made a strong commitment to tackling climate change, with one of the most ambitious carbon targets in the world in the form of the Climate Change Act, and is something collectively we cannot afford to lose sight on.
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