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U.K. Tells Business: Phase Out Carbon or Lose Out on Contracts

  • Firms without net zero goal barred from major government work
  • U.K. using its $411 billion procurement budget to spur action
Uniper AG's Ratcliffe On Soar Coal Power Plant As EON SE Loosens Ties To Old Energy

Photographer: Chris Ratcliffe/Bloomberg

Boris Johnson’s government told companies to publish their carbon reduction plans and commit to phasing out greenhouse gas emissions altogether by 2050, or lose out on large U.K. state contracts.

Firms that haven’t committed to so-called net zero emissions or published a “clear and credible” carbon reduction plan by September won’t be allowed to bid for contracts worth more than 5 million pounds ($7.1 million) a year, the Cabinet Office said in an emailed statement.