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Under new requirements issued by the Cabinet Office, firms seeking public sector contracts worth more than £5m a year, from September 2021, will also have to publish “clear and credible carbon reduction plans” before being considered, reports Sky News.

Businesses bidding for major government contracts will have to sign pledge to be net zero by 2050. The move, which coincides with World Environment Day, is the first of its kind anywhere in the world, and it applies to all bidding firms, not just those that win contracts.

“Firms which fail to do so will be excluded from bidding for the contract”, the government stated.

“The government spends more than £290bn on procurement every year, so it’s important we use this purchasing power to help transform our economy to net zero … Requiring companies to report and commit to reducing their carbon emissions before bidding for public work is a key part of our world leading approach. These measures will help green our economy, while not overly burdening businesses, particularly SMEs,” said Lord Agnew, Minister for Efficiency and Transformation.

Read more here on Gov.UK

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