Getting the finance industry to step up was a key crowning achievement of COP26, according to Chris Skidmore MP, former minister and chair of the UK Net Zero Review, who joins the ESG Out Loud podcast today.
Nevertheless, the government must do more and faster in order to give investors confidence.
In January this year Skidmore published Mission Zero – Independent Review of Net Zero in which he urged the government to do more to engage with businesses on green growth and sets out 129 recommendations on how to do so, including creating sustainable governance structures, creating incentives for green businesses and increasing transparency.
The review was largely welcomed by the investment industry, which saw its recommendations reflected there, serving as an opportunity for the government to take on its suggestions.
The government has taken on around 100 suggestions from the review, and Skidmore says he is looking to the Autumn Statement to address those remaining such as long-term investment plans and tax credits such as responding to the US Inflation Reduction Act.
Listen to today’s episode to also hear Skidmore’s views on the news last week that the UK government received no bids for new offshore wind farms, where he sees green investment opportunities in the UK and how to avoid “going down a rabbit hole” on investing in impactful products.
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