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Climate Change Committee promises increased emphasis on finance and business for 2022

Climate Change Committee promises increased emphasis on finance and business for 2022

Stark has called business and finance “cross-economy enablers” of the net-zero transition




The Climate Change Committee has presented its work programme for 2022. It promises to be focused on “delivery & implementation” as well as additional guidance on investment and finance.


Stark has called business and finance “cross-economy enablers” of the net-zero transition

Stark has called business and finance “cross-economy enablers” of the net-zero transition

A new blog from CCC chief executive Chris Stark reads: “The UK’s climate goals have been substantially reset, so the focus moves to delivery and implementation.

“Ministers have made clear that the lion’s share of progress will be made by the private sector, led by Government. So that is where the CCC’s attention must also turn: private sector delivery and implementation of the public policies to underpin it.”

The blog promises “new advice that will differ substantially from our output of recent years”.

The CCC will continue to produce annual reports on progress for the UK in general, as well for Northern Ireland, Scotland, and Wales. The UK’s report will notably include Further analysis of Net Zero Strategy, which has been widely criticised. The Committee will also continue to make sector-specific policy recommendations for high-emitting and difficult-to-abate areas such as buildings, heavy industries, energy supply, transport, and other sectors.

The private sector will get additional insights in 2022. The CCC has promised to work with businesses in order to gain the support they desire from the Government.

To this end, the Carbon Market Watch and New Climate Institute provide support. Publication of a report assessing the credibility of corporate net-zero targets earlier this month, garnering much media attention. The research revealed that 25 large businesses have committed to reducing their carbon footprint by using offsetting.

The CCC will offer insights into corporate commitments for investors as well as the wider sector and end-user companies. Stark has called business and finance “cross-economy enablers” of the net-zero transition.

Only transition

Also promised in Stark’s blog are new advisory briefings on engaging the public with the net-zero transition and ensuring a just transition in terms of how the costs and benefits of the transition are shared.

These issues have featured prominently in the news over the past week amid the ongoing energy price crisis. This led to renewed resistance from certain sections of the Conservative Party to net-zero.Energy analysts have been fighting back against a series of disinformation about coal, fracking, domestic gaz production, and environmental and social charges on bills.  

Research has Several times shown that the UK’s general public is concerned about the climate crisis and that most people want to help the transition. However, the Government has been asked, time and again – including by the CCC – to better support and inform them to undertake behaviour changes. The bulk of the UK’s decarbonisation to date has been driven by the power generation sector and heavy industry, meaning that people have not seen huge changes in their daily lives. The impact of action in sectors like heat and transport, food, and buildings will be greater.

See Also
Biden signs executive order on climate change to require net-zero emissions from federal government by 2050

CCC 2022 promises a new briefing on skills and workers. The UK Government has set a goal of two million jobs by 2030. Current commitments would deliver less that half of this level. The UK doesn’t have a formal definition of what constitutes “green job” at the moment.

Large businesses in high-emitting industries will have to attend a briefing on skills and jobs. They will also be required to publish net zero transition plans. These plans will outline how they plan to decarbonise, how it will affect workers, and the steps that will be taken to address these issues. This requirement will be in force in spring 2023.

Sarah George

 

 

 



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