// Businesses aiming to secure major government contracts need to pledge to be net-zero by 2050
// Under new requirements, firms will need to publish “credible” carbon reduction
// The move is the first to be launched globally
Businesses looking to secure major government contracts worth over £5 million will now have to pledge to be net-zero by 2050 from September this year.
Under the new requirements, businesses seeking public sector contracts will have to publish “credible” carbon reduction plans stating their existing greenhouse gas emissions, which includes power consumption, staff travel and fuel usage.
The move is the first of its kind to be launched anywhere in the world.
Speaking to Sky News, minister for the Pacific, international environment, climate and forests, Lord Goldsmith said the UK is “blazing a trail” on climate initiatives, which other countries are following by example.
“I think the UK is doing more than any country that I’m aware of,” Goldsmith said.
“We’re calling on the big multilateral development banks, like the World Bank, to make sure every decision takes into account the natural world.”
The news comes as COP26 president Alok Sharma called on G7 leaders to make enough emission cuts in a bid to decrease the global temperature to under 2C, under the Paris Climate Agreement.
COP26 will take place in Glasgow in November.
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