COP26: UK firms forced to plan for low-carbon future COP26BBC
Kay Swinburne, vice-chairman of financial services at KPMG UK, said the announcement would provide the financial services industry with a "valuable set of unified metrics to measure progress towards decarbonisation".And Dr Ben Caldecott, director of the UK Centre for Greening Finance and Investment, said the plans would "spur demand for green finance and accelerate decarbonisation, not just in the UK but wherever UK firms do business".
"Private sector investment is vital, but it will be much easier to achieve on the back of serious investment by the chancellor," he said. "We need public institutions rather than bank CEOs to lead the way in setting standards and delivering green investment. Follow the money to net zero. That is the plan unveiled today, with two-fifths of the world's financial assets, $130 trillion, under the management of banks, insurers and pension funds that have signed up to 2050 net-zero goals including limiting global warming to 1.5C.
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