Committee on Climate Change
Independent advisors to the UK Government on tackling and preparing for climate change
Profile on Peter Young – Chair of the Aldersgate Group |
 Peter Young has been the Chair of the Aldersgate Group since December 2007. The group published a report on 12 October 2009 which argued that a more radical approach to financing low carbon projects is needed to ensure carbon targets are met. He is Strategy Director at Enviros Consulting and has worked in the environmental sector throughout his career, since graduating with a degree in environmental chemistry....Q1. Who are the Aldersgate Group and what are you campaigning for? The Aldersgate Group is a high level policy think tank and membership organisation made up from leading businesses, environmental campaigning groups and significant individuals including MPs from all three major parties. Our core message is to provide the economic case for high environmental standards and to push Government to act more swiftly in the necessary economic transition to a low-carbon economy. We use the diversity of our membership to identify policy solutions which find support across the business, NGO, political and environmental spectrum. To maintain this breadth we restrict membership to one or two organisations from each business sector but actively seek members in under-represented areas. Q2. Why are you saying that a new approach is required to help the transition to a low-carbon economy? We believe that the scale of the economic transition that is required has not yet been fully grasped by Government and society at large. Much more extensive institutional reform will be needed to achieve the goals of avoiding damaging climate change and grasping the business opportunities of a low carbon economy. Our latest report on financing the transition recognised that at least £260 billion will be required by 2020 for low carbon energy infrastructure alone. This investment must come from the private sector. The good news is that the private sector has the capacity to deliver. The bad news is that it is unable and unwilling to step forward at the scale required because it does not believe the ambitious high level policy objectives are being matched with sufficient credible actions by Government. Q3. What potential economic opportunities do you think there are for UK businesses in the low-carbon market? There is widespread recognition of the potential for new jobs and businesses based on future low carbon technologies. These range from renewable energy generation to low carbon transport and buildings, and from the dematerialising of goods, to innovative financial and service solutions. The scale of economic benefit is dependent on gaining early mover advantage and making the UK a credible place for investment in low carbon solutions. This can only be achieved if we increase the pace of change and do not become a latter day purchaser - giving the economic benefits to other countries who have developed their markets before us. The UK is well placed in natural and human resources to be a major global player but must have the policy in place to stimulate and accelerate new low carbon markets. I also believe that every business and organisation will have to adapt and adopt measures to deliver resource efficiency and sustainable practices. This will require new generic skills and create new jobs across all existing sectors of the economy. Q4. What do you think can be done to strengthen the market in this area? Although not always popular, it is essential that regulation is used to stimulate the required behaviour before the market can create the necessary drivers. The urgency of reducing our carbon footprint demonstrates the past market failure of undervaluing natural resources and environmental damage - there is no reason to suppose that market forces alone will cause us to react in time. The private sector has the funds to deliver the necessary investment, but greater policy certainty and conviction is needed to reduce risks to an acceptable level. Investors must see a rate of return which is commercially viable and secure long term policies which are unwavering are essential. The Government also has a role to lead by example through its public sector supply chain, which drives 40% of our economy, and in providing opportunities for personal engagement through investment opportunities such as climate bonds and promoting green alternatives. Q5. Why do you argue that carbon reporting should be mandatory? We have now set long term national and sector targets for carbon reduction and yet these goals can never be achieved if we do not have an agreed way of measuring our progress. Whilst business has led some excellent voluntary schemes such as the Carbon Disclosure Project, there remain a significant proportion of laggards who have yet to address and report their carbon impacts. We know that what gets measured, gets managed. We know that emission reductions are driven by transparency and open scrutiny of carbon performance. We have published guidance and accepted International protocols, there remains no excuse for driving mandatory reporting now so that we can begin to measure and drive carbon reduction at the faster pace that is required. |
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