UK and Indian businesses champion low carbon industry
UK and Indian businesses have joined to call for closer cooperation between the two countries on progress to a low carbon economy.
The UK-India Business Leaders Climate Group (BLCG) have issued a report on how the UK and India could work together to boost economic growth and cut carbon emissions at the same time.
The British businesses in the group include Marks and Spencer, HSBC, and the National Grid.
The group is chaired by Sir Stuart Rose, chairman of Marks and Spencer and Mr Rajan Bharti Mittal of Bharti Enterprises.
It has outlined the business case for a faster move towards a low carbon economy, identifying opportunities in clean energy, energy efficiency, low carbon technology, water, waste management and related services.
The report ‘Charter of Principals’ recommends the development of joint demonstration projects to raise awareness of opportunities and the removal of barriers to capital flows to stimulate investment in a low carbon economy.
The group calls for effective regulatory frameworks to support the transition to a low carbon economy and greater participation by businesses in framing of climate change and low carbon development policy.
Prime Minister, David Cameron said: “Some of the most powerful solutions to the climate change challenge will come from business.
“This report sets out a clear roadmap towards further collaboration between business leaders in our two countries. It’s an exciting agenda that can deliver jobs, growth and environmental protection”.
With the global market for low carbon and environmental goods and services expected to be over £4.3 trillion by 2015 and employment opportunities in millions, the group believes the two countries have much to gain from expanding their trade and collaboration.