Coca-Cola among firms who have sent a letter urging the UK to set net zero emissions targets.

Coca-Cola among firms who have sent a letter urging the UK to set net zero emissions targets.

In an open letter addressed to Prime Minister Theresa May, global firms have highlighted the importance of the government setting long-term goals so businesses can work to deliver higher ambition and plan for long-term success.

The letter, sent yesterday on the 10th anniversary of the UK Climate Change Act and coordinated by The Prince of Wales Corporate Leader Group, was signed by CEOs from Coca-Cola European Partners, Unilever, SSE and Thames Water.

The UK Climate Change Act means that the UK Government is legally obliged to reduce greenhouse gas emissions by at least 80 per cent of 1990 levels by 2050.

The letter makes a point of praising the UK for its efforts to reduce emissions over the last ten years, however, notes the importance of the recent IPCC report which warns of the climate-related risks if immediate action isn’t taken.

This news follows MPs calling for the petrol and diesel ban to be brought forward to 2032, from the original date of 2040, to reduce emissions further.

The Prince of Wales Corporate Leader Group has previously played a role in encouraging the UK to reduce emissions.

Eliot Whittington, Director of the Corporate Leaders Group, said: “To have any hope of limiting temperature rises to 2°C or less, it is clear from the latest science that global emissions must now fall to net zero as early as possible in the second half of this century. But to achieve this throughout the global economy, we need ambitious long-term strategies that can inform policy and business decisions, encourage the investment and creativity that will build a zero emissions resilient future, and avoid stranded assets and mis-investments.”

Read the full letter here.