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Investors Managing £1.5 Trillion Express Concerns to UK Prime Minister Over Climate Policy Certainty

ESGInvestors Managing £1.5 Trillion Express Concerns to UK Prime Minister Over Climate Policy Certainty

A group of 36 financial institutions, collectively managing £1.5 trillion in assets under management and members of the UK Sustainable Investment and Finance Association (UKSIF), has raised concerns in a letter to UK Prime Minister Sunak about the impact of recent policy signals on investor confidence in the government’s climate commitments. The letter comes as global competition intensifies among major economies to attract investments for transitioning to cleaner energy systems and industries. The UK government, which legislated a target to achieve net-zero emissions by 2050 in 2019, has been urged to provide long-term policy certainty to facilitate the estimated £50-60 billion of investment required to meet its net-zero goals. Concerns have arisen due to recent policy decisions, such as approving new North Sea oil and gas drilling licenses and potential pushback on policies like the ban on the sale of new petrol and diesel cars and vans by 2030. The investors emphasized that stable and predictable policies are necessary to attract large-scale investments for accelerating net-zero delivery and fostering growth in the UK’s financial services sector.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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