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Alliance urges MPs to back decarbonisation target in Energy Bill
Changes could see the UK have a near carbon free power sector by 2030
A broad alliance of organisations today called on MPs to back changes to the Energy Bill that would see the UK have a near carbon free power sector by 2030.
Triodos Bank is one of over 35 signatories to the joint statement to MPs and ministers, from a wide range of economic and civil society groups. The call to support a decarbonisation target represents the biggest single group of organisations showing support for a joint statement on amendments to the Energy Bill and represents a broad range of organisations, including energy and supply chain companies, investors, unions, church groups and NGOs.
The next opportunity to include a revision to the Bill will be during Report Stage in early March, where MPs will debate the latest amendment laid by Tim Yeo MP and Barry Gardner MP. This would require the UK Government to set a 'decarbonisation target' by 1 April 2014, which would put the UK on track to have a largely decarbonised power sector by 2030 in line with the recommendations of the Committee on Climate Change.
The groups behind this amendment to the Bill, say that they are "united in the belief that a low-carbon power sector is essential to secure the future wellbeing of our economy", arguing that the Energy Bill "represents a major opportunity to put the UK firmly on track to becoming a world leading low-carbon economy, boost employment and show genuine leadership in the fight against dangerous climate change."
Commenting James Vaccaro, Head of Market & Corporate Development, Triodos Bank said: "The more stability the Government provides to support the transition to clean energy, the cheaper, quicker more efficient the industry will be at delivering the infrastructure we need."
The full Joint Statement reads: "The Energy Bill represents a major opportunity to put the UK firmly on track to becoming a world leading low-carbon economy, boost employment and show genuine leadership in the fight against dangerous climate change. Our organisations jointly call on Members of Parliament to seize this unique opportunity to commit the UK in the Energy Bill to have a near carbon free power sector by 2030 in line with the recommendations of the Committee on Climate Change. We represent different parts of society but are united in the belief that a low-carbon power sector is essential to secure the future wellbeing of our economy, our environment and future generations."
The following organisations have signed up to the statement: SSE, Mainstream Renewable Power, EdPR, Dong Energy, Repower, Repsol, Renewable Energy System (RES), Good Energy, Ecotricity, Seajacks UK Ltd, Seanergy Plc, Modus Seabed Intervention Ltd, Harland and Wolff Heavy Industries Ltd, UK Sustainable Investment and Finance Association, RSA, Cisco, Interface, PZ Cussons, Triodos Bank, The Co-operative Group, the TUC, Regen South West, Association for the Conservation of Energy (ACE), IPPR, Christian Aid, Oxfam, British Association for Sustainable Sport, Quakers in Britain, The Baptist Union of Great Britain, the United Reformed Church, Methodist Church in Britain, Operation Noah, Greenpeace, the RSPB, Friends of the Earth and WWF.
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About Triodos Bank
Triodos Bank only finances enterprises which create social, environmental or cultural added value. Key sectors include organic food and farming, renewable energy, social housing, and fair trade. Transparency is a core value and Triodos publishes details of every business it lends to. A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol