Fund groups, banks and asset owners in the UK are concerned. In a letter addressed to the Prime Minister Rishi Sunak, 36 such firms have pointed towards reforms to the carbon trading scheme, and plans to issue 100-plus new oil and gas licenses in the North Sea, as moves that have only served to undermine investor confidence. Doubt has been cast, the alliance suggests, on the government’s commitment to phasing out gas boilers by 2035, alongside the potential ban on the sale of new petrol and diesel cars by 2030. 

Clear guidance from the UK government regarding its net-zero commitments is being called for. 

This push for clarity reflects the financial sector’s growing emphasis on environmental sustainability and the need for a well-defined roadmap to align investment strategies with the country’s goals to achieve carbon neutrality. 

In an article for Financial News, Kristen McGachey highlights the ongoing conversation about the financial industry’s role in advancing climate goals. The article follows previous reports that call attention to the financial sector’s increasing efforts to integrate environmental, social, and governance (ESG) factors into their decision-making processes. However, whilst firms like Jupiter Asset Management and Atom bank have been taking proactive steps towards environmental conscious practices, there are ongoing calls for progress in implementing more transparent policies to support sustainable investment.