• COP26 President Alok Sharma visited Viet Nam and Indonesia as part of the UK’s work to progress commitments made in the Glasgow Climate Pact at COP26
• Mr Sharma met Vietnamese Prime Minister Pham Minh Chinh and key ministers in Hanoi, welcoming 2050 Viet Nam’s net zero commitment
• In Indonesia, Mr Sharma met a range of ministers to discuss how the UK and Indonesia can work together to reinforce climate action during Indonesia’s G20 Presidency

COP26 President Alok Sharma travelled to Indonesia and Viet Nam this week to progress and strengthen delivery of the landmark Glasgow Climate Pact.

These visits continue the work of the UK COP Presidency to press for updated climate commitments from all countries ahead of COP27 in Egypt, aligned with the crucial goal of limiting global temperature rises to 1.5 degrees.

In Viet Nam (13-15 February), Mr Sharma met Prime Minister Pham Minh Chinh, Minister of Natural Resources and Environment Tran Hong Ha – Viet Nam’s Chief Negotiator for climate change, and Minister of Industry and Trade Nguyen Hong Dien, and Minister of Planning and Investment Nguyen Chi Dung.

Mr Sharma welcomed the ambitious commitments made by Prime Minister Chinh at COP26, including a 2050 net zero commitment and endorsing the ‘Coal to clean power transition’ statement. He underlined the UK’s determination to work with Viet Nam to achieve its commitments and to put forward a 2030 climate action plan that aligns with the 1.5 degree goal.

The COP President also acknowledged the scale of the task to deliver the public investment needed for Viet Nam to transition to clean energy, and the finance needed to provide dedicated support to Viet Nam to support its ambitious climate commitments. This includes the potential for support through the ‘Clean Green Initiative’, which aims to help developing countries take advantage of green technology and grow their economies sustainably.

In a meeting with members of civil society, Mr Sharma explored the opportunities and challenges for their organisations and Viet Nam in responding to climate change, and emphasised that active engagement with these organisations was key to the success of COP26 and will be vital in delivering the commitments of the Glasgow Climate Pact.

He also hosted a roundtable with representatives from international companies to discuss the vast potential of renewable energy in the country. This potential is highlighted in the UK-chaired Energy Transition Council report on coal abatement, which highlights that by switching to wind, solar and gas, by 2030 Viet Nam can reduce 59% of emissions, create 280,000 jobs and save $120bn of fuel imports.

In Indonesia (15-17 February), Mr Sharma met the coordinating Ministers of Maritime Affairs and Investment, and Economic Affairs, and the Ministers for Finance, and Energy and Mineral Resources, thanking each for Indonesia’s strong presence at COP26. Mr Sharma welcomed the Indonesian government making climate action a key priority for their G20 Presidency and pledged the UK’s support in encouraging all G20 countries to keep to the commitments made in the Glasgow Climate Pact.

This follows fresh UK announcements made at COP26 working with Indonesia and the wider region on nature and biodiversity, climate resilience, renewable technologies, and UK funded green investments to support clean infrastructure projects.

With huge renewable energy resources that could power all the country’s electricity needs more than five times over, Mr Sharma also said that Indonesia can become a regional and global leader in low carbon energy technologies and innovation, creating new industries and jobs.

On the final day in Indonesia, Mr Sharma visited the seawall in Jakarta to speak to flood experts and communities on efforts to increase the city’s resilience to land subsidence. Extreme weather and sea level rises linked to climate change may make addressing this challenge even more difficult, emphasising the need for support for countries to build resilience to climate change.

COP President Alok Sharma said:

The Glasgow Climate Pact is making its mark in South East Asia. Vietnam and Indonesia are set on a net zero future.

COP26 was a fragile win and in 2022 we need countries like Vietnam and Indonesia to honour their commitments and revisit their 2030 emissions reduction targets this year.

Speaking after his visit to Viet Nam, Mr Sharma said:

I welcome the climate leadership Prime Minister Chinh demonstrated at COP26, including the vital goal to reach net zero by 2050.

It was beneficial to discuss in person how the UK can work with Viet Nam to achieve these ambitious targets, particularly around how improvements in their grid infrastructure could be transformational and help deliver a 2030 plan that aligns with the 1.5 degree temperature limit.

On Indonesia, Mr Sharma said:

Indonesia, as G20 President, has a vital role to play in ensuring countries deliver what they promised in Glasgow.

The transition to a net zero economy represents an enormous economic opportunity to every country and sector. Net zero has become the guiding light for modern, competitive growth.

As a fast growing economy with significant renewable energy potential, Indonesia has the opportunity to become a climate leader and accelerate the transition from coal power. We and other G20 partners are keen to support and recognise its ambition.

Ends

Mitchell James Smith, 40, from Dudley, has been disqualified as a director for 7years.

He was director of MJS Business Ltd, a home renovation and refurbishment business which was started in late 2017 and traded as MJS Interiors, based in the West Midlands.

However, the company struggled and by late 2020 had ceased trading before liquidators were appointed to close the company.

The Liquidators reported to the Insolvency Service that the director failed to co-operate with them and failed to deliver up the company’s accounting records, meaning it was not possible to determine if assets could be realised for the benefit of creditors, or how much any creditors were owed.

This triggered an investigation by the Insolvency Service, which uncovered money paid to the company totalling £2,189,405, for which there was no explanation. In addition, outgoing payments of £2,205,375 were not explained.

The Secretary of State for Business, Energy and Industrial Strategy accepted a disqualification undertaking from Mitchell Smith after he admitted failing to maintain and/or preserve adequate accounting records or, in the alternative, failing to deliver up to the joint liquidators such records as were maintained. His ban commences on 8 March 2022 and runs for 7 years.

The disqualification undertakings prevent both from directly, or indirectly, becoming involved in the promotion, formation or management of a company, without the permission of the court.

Dave Elliott, Chief Investigator at The Insolvency Service said:

It is important for all directors to be aware of their responsibilities to the company and its creditors. Failure to maintain accounting records is a failing for which the Insolvency Service will seek serious and significant sanction.

Notes to editors

Mitchell James Smith is of Dudley, West Midlands and his date of birth is October 1981.

MJS Business Ltd (Company Reg no. 11125409).

A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:

• act as a director of a company

• take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership

• be a receiver of a company’s property

Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings.

Persons subject to a disqualification order are bound by a range of other restrictions.

Information about the work of the Insolvency Service, and how to complain about financial misconduct.

Contact Press Office

You can also follow the Insolvency Service on:

• Announcement by Japan as Chair of the UK’s Accession Working Group on behalf of the CPTPP members this morning confirms UK’s move into second and final phase of accession to join £8.4 trillion CPTPP free trade area
• International Trade Secretary travels to Asia to visit Indonesia, Japan & Singapore to strengthen Indo-Pacific trade ties and oversee launch of final phase of negotiations
• Trans-Pacific Partnership trade bloc contains some of the world’s most dynamic economies and demonstrates the value of UK’s future-facing trade strategy

The UK has today [18 February 2022] reached a major milestone to join what the International Trade Secretary has hailed ‘one of the largest and most exciting free-trading clubs in the world’.

Confirmation from the Japanese government, as Chair of the UK’s Accession Working Group on behalf of the CPTPP members, in the early hours of this morning means the UK has moved into the second ‘market access’ phase of negotiations with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a free trade area worth £8.4 trillion in GDP.

The announcement comes ahead of Anne-Marie Trevelyan’s visit to Indonesia, Japan and Singapore next week to oversee the launch of the final accession stage and deepen trade ties throughout the Indo-Pacific region.

Moving to the final stage of the accession process is a key milestone towards acceding to CPTPP and means the UK has demonstrated to members of the partnership that we are a high-standards, fair trading economy.

Secretary of State for International Trade Anne-Marie Trevelyan said:

CPTPP is one of the largest and most exciting free-trading clubs in the world. Today’s announcement is a major milestone for us joining this dynamic group of economies and means the finish line is in sight.

I look forward to visiting Asia next week and flying the flag for Global Britain by holding valuable trade talks with key partners across the Indo-Pacific region and pushing to secure CPTPP accession by the end of the year. This is just one aspect of our Indo-Pacific strategy, which will benefit businesses and consumers across every part of the UK and help us to level up at home.

Following today’s announcement, market access negotiations will now begin in which the UK will agree new trading relationships with CPTPP countries, which could lead to 99.9% of UK exports to CPTPP being eligible for tariff-free trade.

We will ensure that the terms are in line with the UK’s broader policies and will negotiate in the national interest.

Benefits of UK accession could include:

• New guarantees of access to services markets, providing valuable opportunities for the UK’s world-class services industry to increase exports to CPTPP countries.

• Ensuring UK businesses are in an even better position to expand their digital reach in the global marketplace thanks to CPTPP’s modern rules for digital trade across all sectors of the economy.

• Making it easier for some UK exports to qualify for preferential tariff treatment than under bilateral free trade agreements alone and increasing demand amongst CPTPP members for imports of UK goods such as British engines. CPTPP’s rules of origin means traders can more easily import goods from other members.

CPTPP membership is expected to support levelling up by benefitting every nation and region of the UK, with the greatest relative gains predicted to be in the West Midlands, Scotland and Northern Ireland. There is expected to be a £53 million boost to the Gross Value Added of Wales, £45 million for Northern Ireland and £163 million for Scotland following UK accession to CPTPP.

As made clear in our Integrated Review published last year, the Indo Pacific region is vital for the future of Britain as it is critical to Global Britain’s strategic, economic and security interests. The centre of economic gravity is moving East.

Joining CPTPP puts the UK at the heart of a dynamic group of countries as the world economy increasingly centres on the Pacific region. As these economies grow, so does the benefit to the UK of being able to trade freely with them.

Accession to CPTPP will also give the UK a role in setting the standards for a liberal international trading order which is a key part of securing shared prosperity and regional stability.

CBI President Lord Karan Bilimoria said:

This marks a significant step towards the UK’s ambition to join one of the largest free trade agreements in the world. Global trade is pivotal for levelling up our regions, and this deal could unlock opportunities with countries contributing more than £100 billion to our economy. It will also give the UK a chance to play a leading role in shaping standards.

Nicola Watkinson, Managing Director, International Trade and Investment, TheCityUK, said:

This announcement is a significant milestone in the UK’s journey towards joining this strategically important trade bloc and demonstrates the real momentum behind the UK’s application. CPTPP member countries include some critical growth markets for the UK-based financial and related professional services industry. Membership will give UK firms greater access to business opportunities in one of the fastest growing regions in the world, benefiting the UK’s overall export performance.

CPTPP membership will allow the UK to work more closely with other Pacific Rim economies as the Partnership develops, to set in train innovative approaches to regulating digital trade, fostering regulatory co-operation, and liberalising services trade.

The Competition and Markets Authority (CMA) opened its investigation into CVS Group’s purchase of Quality Pet Care, which trades as The Vet, in December last year. Both firms are providers of veterinary services, with CVS Group owning 467 practices in the UK, while The Vet operates 8 practices across England.

Recent reports indicate that there are 17 million pet-owning homes across the UK, with consumer expenditure on vets and other services for pets in the UK estimated to be around £4 billion between July 2020 and June 2021. In recent years, the ownership of vets’ practices across the UK has changed, with many practices being acquired by a small number of corporate groups, such as CVS. While independent veterinary practices accounted for 89% of the UK industry in 2013, this share had fallen to less than half (45%) by 2021, primarily as a result of independent practices being bought by corporate groups.

Following its Phase 1 investigation into CVS’s acquisition of The Vet, the CMA has found that the merger raises competition concerns in 5 local areas – Bristol, Nottingham, Portsmouth, Southampton and Warrington.

The CMA’s investigation found that the combined businesses would account for a significant proportion of veterinary services in each of these areas. While veterinary practices owned by CVS and The Vet currently compete for customers at each of these locations, the CMA is concerned that the combined businesses would not face sufficient competition after the merger. This could lead to pet owners facing a worse quality of service, including more limited treatment options, or having to pay higher prices.

Colin Raftery, Senior Director of Mergers, at the CMA, said:

Pets are much-loved members of millions of households across the UK and, when veterinary care is needed, it’s important that pet owners have access to a good service at the right price.

The CMA has received a number of complaints in recent years about higher prices or lower quality services as a result of too many vets’ practices in the same area being under the control of a single company.

This deal could lead to customers facing more limited treatment choices for their pets or paying over the odds for services in these areas. Should CVS fail to address our concerns we will refer the deal for an in-depth investigation.

CVS has 5 working days to offer legally-binding proposals to the CMA to address the competition concerns identified. The CMA would then have a further 5 working days to consider whether to accept these instead of referring the case to a Phase 2 investigation.

For more information, visit the CVS / Quality Pet Care merger inquiry page.

1. CVS refers to CVS Group plc, including its subsidiary CVS (UK) Limited, and The Vet refers to Quality Pet Care Ltd (Quality Pet Care), trading as The Vet.
2. Following a Phase 1 review, the CMA has found that CVS’s acquisition of The Vet gives rise to a realistic prospect of substantial lessening of competition (SLC) in the local areas around 5 of the 8 practices acquired by CVS, in Bristol, Nottingham, Portsmouth, Southampton and Warrington.
3. The information available to the CMA indicates that the combined businesses of the CVS and The Vet would provide more than 30% of all veterinary services in each of these five local areas.
4. The CMA served an initial enforcement order in September 2021 requiring the companies to operate independently, as they did before the purchase. The order remains in force. Details of the order can be found on the CVS / Quality Pet Care merger inquiry page.
5. The CMA’s investigation focused on the provision of commercial veterinary services to small animals (including cats, dogs and other pets), and excluded services for equine and farm animals (horses and livestock); the CMA’s investigation also excluded out of hours services and referral services, as well as non-commercial practices in the market, such as charities.
6. The Pet Food Manufacturer’s Association found in its 2021 Pet Population report that 17 million UK households had pets.
7. ONS data suggests that in the year leading up to July 2021 consumer spending on vets and other services for pets was over £4 billion.
8. All media enquiries should be directed to the CMA press office by email on press@cma.gov.uk, or by phone on 020 3738 6460.