News & Media > Sustainability
30:08:2010
Sustainability must be here to stay
Not long ago, excitement swirled around anything to do with sustainability. Today, austerity is on the lips of many. We are faced with the prospect of a grey instead of a green revolution.
A long-term view is needed. Sustainability represents a major shift in society and the economy. History shows us ebbs and flows are normal for such ‘game changers’. Consider how the internet and the railroads developed!
The drivers for environmental sustainability have not changed. We are still concerned about the long-term problems of climate change, water, waste, biodiversity, and natural resources. In the current economic atmosphere, sustainability is not a ‘nice to have’, rather it requires focus. Our highest priority must be the transition to a low carbon economy. It will establish the foundation for future economic growth.
What can we do to change a low carbon economy?
We all have a role in helping make this transition. If we look at the market, the major energy investment themes are efficiency and renewables. Efficiency is concerned with using less energy. Renewables looks at generating energy from renewable sources.
There are two levels where we can take action.
At a company level we can improve efficiency and develop small-scale renewable energy. As sponsors of the EDP Environment and Sustainability awards, May Gurney has seen impressive examples of efficiency and renewables from both large and small companies in our region. These include recycling and reducing resources, reduced and efficient use of vehicles, and renewable energy from solar and biofuels.
Another area to explore is the feed-in-tariff. Beginning in April, this new government-backed measure pays you to generate and export electricity. Feed-in-tariffs are intended to generate returns of approximately 5-8% for investors. Other benefits include stable energy prices, secure supplies and steps toward true carbon neutrality.
However individual companies can only go so far.
The good news is that we live in a democracy. Let government know you want them to make the low carbon economy a reality. Contact your national and local elected officials. Encourage your trade associations to lobby government. Let your voice be heard.
A combination of carrots, sticks, guaranteed loans, grants and income is needed. The Carbon Reduction Commitment is an example of a stick. Large organisations consuming over 6,000 megawatts of electricity must join a mandatory emissions trading scheme. They is a financial gain or loss based upon how much they reduce electricity usage.
The coalition is exploring establishing a Green Investment Bank. It would focus efforts and investments for transitioning to a low carbon economy.
Investment required to meet UK climate change and renewable energy targets is estimated at £550bn. This is the scale at which we need to think and act. The government needs to be bold. If we act now individually and collectively we can secure a sustainable and prosperous future.
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