“The findings of the IPCC report demand actions, not just platitudes.  Businesses have the innovation, tech and capabilities now.  UKBCSD members are proving this every day.

“Businesses do not need world leaders to provide short-term, one-off funding to incentivise the transition to net zero, but a road map which enables businesses to invest trillions of dollars in the long-term change of our global economy.

“The barrier to change is the lack of a sustainable economy – we’re not talking about levelling up but enabling sustainable change.”

The UK Business Council for Sustainable Development is calling for:

1. A reward-based transition to net zero with no VAT charged on green energy use or sustainably created materials, fast-tracking environmentally friendly buildings and projects through the planning system and green taxes which are lower for companies which reach targets to transition away from carbon faster.

2. A clear and consistent set of outcome-based targets for businesses which enable regulators to legally determine who is meeting their commitments to transition to net zero. These targets should be based on the UN’s 17 Sustainable Development Goals.

3. World leaders to commit to creating national laws based on the UN’s Sustainable Development Goals at COP26.