LONDON (Reuters) - Companies bidding for British government contracts must commit to net zero emissions by 2050 and publish their carbon reduction plans under new rules announced on Saturday.
The announcement, which comes on World Environment Day, is in line with the government's net zero commitment to balance carbon emissions with their removal from the atmosphere by the middle of the century.
"The government spends more than 290 billion pounds ($411.34 billion) on procurement every year, so it’s important we use this purchasing power to help transform our economy to net-zero," said Minister for Efficiency and Transformation Theodore Agnew.
"These measures will help green our economy, while not overly burdening businesses, particularly SMEs."
The rules will be in place by September and apply to all prospective suppliers bidding for contracts above 5 million pounds per year. Anyone failing to comply will be excluded from the contest.