UK public contractors must commit to 2050 net zero target

LONDON (Reuters) - All companies bidding for contracts from the British government worth more than 5 million pounds a year must commit to achieve net zero carbon emissions by 2050, it said on Thursday.

The government said Britain, which will host the COP26 climate conference later this year, would become the first country in the world to set such a target.

"Government spends 290 billion pounds ($397 billion) a year on procurement and it's right that we use this spending power to green the economy," Steve Barclay, minister for the cabinet office, said.

($1 = 0.7311 pounds)

(Reporting by Kate Holton and Sarah Young, Editing by Paul Sandle)