UK and India lead the way with green pact

Business leaders from the UK and India have unveiled proposals to work together to boost low carbon growth, in a partnership ministers hope will help drive efforts to secure a global deal on tackling climate change.

The UK India Business Leaders Climate Group said they believed moving to a green economy was essential to combat rising fuel prices, ensure energy security and tackle climate change.

The proposals made by the group led by Marks & Spencer chairman Sir Stuart Rose and Rajan Bharti Mittal, managing director of Indian business Bharti Enterprises, include jointly demonstrating technology such as smart grids and renewable energy.

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A report by the group also recommends joint research and development programmes, innovative financing methods and removing barriers to investment, and better sharing of information – such as on government regulations – to encourage investors in low carbon technology.

The group was set up by David Cameron when he was still in opposition, and the Prime Minister said some of the "most powerful solutions" to climate change would come from business.

"The innovation and creativity of business won't just help us save the planet, but is expected to create millions of jobs and billions of revenue in the green goods and services market. This report sets out a clear roadmap towards collaboration between business leaders in our two countries," Mr Cameron said.

Climate Change Minister Greg Barker said part of the importance of collaborating with India on moving to a greener economy was that "there's a real need for positive outcomes to show we can deliver low carbon growth on the ground". He said the partnership would help to answer the question that was currently holding up international negotiations on climate change, which was whether moving to a low carbon economy was "compatible" with continued growth and prosperity.

The group said it would be implementing a number of the recommendations in its report immediately.