Cop26 live: focus on finance as Rishi Sunak commits to net zero in London | Environment









10:52

Sunak has said he wants the UK to be a net zero financial center and, to that end, wants publicly traded companies to disclose their climate metrics. But it does not require reaching net zero. Why not? At this point in a global crisis, surely it’s not too much to ask the biggest and wealthiest companies to cut their emissions.

Dr Frederik Dahlmann, Associate Professor of Sustainability at Warwick Business School, said: “If the publication of these plans is not mandatory, companies will end up primarily considering the benefits to public reputation and the impacts on risks. disclosure salespeople, rather than spending time and effort planning their zero net strategies

“In addition, in many cases, the carbon footprint of companies is more than offset by that of their supply chains. While these transition plans do not cover all so-called Scope 3 emissions (and ideally impose similar reporting requirements on unlisted companies), the benefits of the proposal may be insufficient to really bend the emissions curve in the UK economy. as an integer.

“Finally, the treasury needs to explain what exactly is going on with these transition plans once they have been reviewed. They can be useful to open a larger discussion on decarbonization within companies, but what are the consequences of not respecting these self-imposed plans? “

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