UK businesses must decarbonise to keep its competitive edge, a new report claims.
The report authored by a number of groups such as Greenpeace, Christian Aid, RSPB and WWF believe that certain sectors such as automotive and chemical production are likely to cause the UK to fall behind in global demand for low carbon services and materials without significant adaptations.
It is claimed that 13% of all manufacturing greenhouse gas emissions are produced by the chemicals sector.
The UK risks falling behind without all industry sectors pulling together and creating emission reducing plans and setting attainable targets.
In terms of green technology production, the UK is behind in the electric vehicle market where it currently imports much more than it exports, in a market that is predicted to grow by 500% by 2030.
Director of Policy at Christian Aid, Christine Allen stated: “The Paris climate agreement has shifted countries all over the world onto a trajectory of cleaner development and blown the starting whistle on a race for new the technologies and markets needed to tackle climate change.”