(Friday 13th January) Commenting on the publication of Energy Minister Chris Skidmore MP's Net Zero Review, Fergus Moffatt, Head of UK Policy at ShareAction said:
"While we welcome the emphasis of Chris Skidmore’s report on the urgent need to accelerate the UK’s transition to net zero, there is clearly a difference between the rhetoric and recommendations. While the report recognizes the immense economic opportunity Net Zero presents to the UK, his recommendations simply don’t match this ambition.
"This review should have included measures that not only incentivise green investment, but that disincentivise investments in fossil fuels – such as the introduction of one-for-one capital requirements. Recommending Sustainable Disclosure Requirements and mandatory Transition Plans across the whole economy is a proposal that will only work if made mandatory.
"Fortunately, the Government has an immediate opportunity to make these recommendations a reality by incorporating them into the Financial Services and Markets Bill currently being debated in parliament.”