Chris Skidmore’s recently published Net Zero Review captures the transition to a net zero economy as a major pro-business and pro-investment opportunity. It offers policy recommendations centred around backing business, backing local action, delivering energy efficient homes, and using infrastructure to unlock net zero. PRI have produced a mapping of our recommendations against the Net Zero Review to signal areas for the UK government to prioritise.
The PRI strongly supports the Net Zero Review’s emphasis on reducing energy demand, powering net zero, and ISSB-alignment. Our mapping highlights that the UK government should focus on:
Clarifying when sustainability goals must or can be considered as part of investor fiduciary duties.
Considering a fair and equitable transition, utilising the opportunity of net zero to redistribute economic activity through attracting investment and skilled jobs.
Continuing, without delay, the development of a UK green taxonomy that supports net zero objectives, and for the taxonomy to be anchored in regulation with mandatory disclosures.
Providing a necessary action plan to support the UK’s ambition to become the first global net zero aligned financial centre.
Greater detail on incentives for investment in decarbonisation and extending credible sectoral roadmaps beyond solar, onshore wind, and nuclear projects.
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