According to the British Government, these commitments will help finance the transition to a climate neutral economy.
The United Kingdom will force listed companies and financial institutions to design plans on how they plan to decarbonize and “move towards net zero emissions”, which will be evaluated by an independent agency, British Economy Minister Rishi Sunak announced at COP26 on Wednesday. .
“We are heading to make it mandatory for companies to publish a clear plan on how they are going to decarbonize and transition to net zero emissions with an independent working group to define what is required,” Sunak said during a conference on green finance during the summit. climate of the UN.
According to the British Government, these commitments “will help create a large amount of cash that could finance our net zero transition, including doing away with coal, switching to electric cars and planting more trees.”
“There will be new requirements for UK financial institutions and listed companies to publish net zero transition plans detailing how they will adapt and decarbonise as the UK moves towards a climate neutral economy by 2050,” it reported the Government in a statement.
To “protect themselves from ecoposture,” these plans will be evaluated by an independent task force that will develop a science-based “gold standard” for transition plans, comprised of academic and industry leaders, regulators, and societal groups. civil”.
This is the contribution of the United Kingdom, one of the great international financial centers, to “reconfigure the entire financial system” and ensure that the 130 trillion dollars (112 trillion euros) committed by the private sector to avoid temperatures not they advance more than 1.5 ºC they fulfill their mission.
Greenpeace UK policy director Rebecca Newsom said in a statement that the British finance minister’s announcement was just “a marketing slogan.”
“These new rules appear to allow ample room for maneuver for financial institutions to continue as usual,” Greenpeace noted.
The UK announcement comes on the same day as the COP in which the UN climate finance chief Mark Carney announced that 450 large financial firms from 45 countries have pledged to invest 130 billion dollars (112 billion euros) in the transition to a decarbonized economy by 2050. (I)
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