United Kingdom, 2014-Sep-10
Matthew Knight
Commenting on the report Matthew said
“At Siemens we take a great interest in the subject of this report. On the one hand, in the UK we have 13 manufacturing sites and employ over 14,000 people locally, so we are interested in the cost of energy and especially UK competitiveness. On the other hand, much of what we make and do is to improve energy efficiency and reduce the environmental impact for our customers' businesses. Around the world 43% of Siemens activity worth 32bn euro last year, is focussed on sustainability and the low carbon economy. Last year our products and services reduced our customers’ carbon emissions by 377Mt equivalent to about half the UK’s total CO2 emissions. We also make the cleanest gas turbine generators and are the UK’s leading supplier of offshore wind turbines so low carbon is at the heart of what we do. We understand the imperative and know that it is vital that we do the Right Thing for our planet.
Earlier this year David Cameron said that Climate Change was the greatest threat to our country. It’s true. A greater threat to our way of life than Ebola, or even “fridgegate”. The world must make a one way transition to a sustainable future. Our children would not forgive us if we don’t... Yet, there is a nagging voice that says “can we really afford it?”
Public and political concern over that question leads to the risk that we go slower or stop for a while in our move towards sustainability. Even if that doesn’t happen, the risk that it might adds an unnecessary cost premium and inertia to our actions. That makes the transition slower and more costly. Shifting those concerns onto a more factual basis will help reduce unnecessary political risk and help deliver the consensus that we need to get on and do the Right Thing.
That is why I am delighted to see this report. It’s the first time I am aware of, that a credible and detailed analysis of the costs and benefits has been made, using the same models we traditionally use to manage the economy. This report puts sustainability right where it should be, into the mainstream of business, political and economic thinking. It’s a solid contribution. It moves us on from a wasteful debate about whether benefits of decarbonisation exist. It helps us to focus on how to maximise those benefits and ensure they are shared in a fair way.
There is important detail in this report, its conclusions are not casual and they highlight some hard political issues – there will be winners and losers. Its overall message is that the UK will be better off by following a low carbon path. That message is reassuring. It turns out that doing the Right Thing is also economically the right thing.
That message helps all of us in business as we plan our investments and consider our strategy. It’s another piece of evidence that supports the case that our future lies in a sustainable, low carbon economy. Those who can prepare for it and help bring it about will prosper.
