8 July 2024 - After a landslide victory in last Thursday's UK General Election, the Labour Party has formed a new government. What challenges and opportunities will the new Government face when it decides on and implements policies relating to business and sustainability? Three leaders at CISL have commented.
Beverley Cornaby, Director of the UK Corporate Leaders Group (which is convened by CISL), said:
"CLG UK welcomes the new government and looks forward to working with them on the transition to a sustainable economy. Now is the time to reboot UK climate leadership to put us back on track to meet our net zero and nature targets.
"The next five years are critical and the new government will have to provide a clear, consistent, long term plan to unlock investment and support businesses in meeting their own targets. This is the biggest economic opportunity for growth and the UK must seize it now."
Dr Nina Seega, Head of CISL's Centre for Sustainable Finance, commented:
"In a dual climate and nature crisis, the transformation of the UK economy to a net zero, nature positive and inclusive one needs to start today.
"To unlock finance and investment, which is vital to that transformation, the government needs to deliver on a clear, comprehensive, ambitious and stable policy and financial regulatory framework, which includes short, medium and long term industrial strategy, use of public finance to unlock private investment and support for the City of London to become a global leader in sustainable finance."
James Cole, CISL's Chief Innovation Officer, said:
"We all know this new Government faces some tough choices to get the UK back on track and we welcome the focus on public services, industrial strategy and global leadership on climate change.
"There is a huge opportunity for the UK to harness its world-leading science and innovation capability and a legacy of leading the world on tackling global issues. To unleash the industries of the future and lead the transition to sustainable societies the Government will need to provide clarity of ambition and direction, to unlock investment, and the policy framework to develop our skills, technologies and partnerships to compete on the global stage."