(Wednesday 25th June) Reacting to the government's announcement of its sustainable finance plans and the transition plan consultation, Fergus Moffatt, Head of UK Policy, said:

“We welcome the UK government’s commitment to sustainable finance and clean energy superpower mission, which should help to drive down energy costs for working people and future-proof our economy.

“Transition plans are a vital link in the chain for turning climate promises into action and moving companies towards a greener, fairer and more prosperous future for Britain.

“Climate change is already hitting the UK hard – from devastating floods to scorching heatwaves – and yet banks and major polluters are still dragging their feet. We urge the government to make transition plans mandatory to set clear expectations for companies, including our sizeable banking sector, to plan for the inevitable transition in a timely way.”

ENDS