28 Jan 2011 10:01:01
Tesco CEO: Govt must support businesses to go green
Regulation can only go so far in combating climate change and the "energy and innovation of the market" must do the rest, the chief executive of Tesco has claimed.
Speaking at the Davos World Economic Forum, Sir Terry Leahy said it is up to governments to create the framework which will allow the private sector to implement more sustainable ways of doing business.
"I believe in the power of the market and in people's creativity to tackle major challenges," Sir Terry added.
He made his speech to key figureheads in the fight against climate change, including the British economist Lord Stern, and Ebrahim Patel, the minister of economic development in South Africa, which will be hosting the United Nations Convention on Climate Change later this year.
Sir Leahy also spoke about the power he believes consumers hold in curbing carbon emissions.
"Encourage consumers to go green, not just by saving energy but buying products with a low carbon footprint – if we can do that, then we will create a mass movement in green consumption," he said.
Tesco is among the retailers using the Carbon Trust's Carbon Reduction Label on its products. The annual value of goods bearing the label in the UK reached £2 billion last year, according to the Centre for Retail Research.