Bankers for Net Zero has responded to the Climate Change Committee’s 2023 Progress Report to Parliament published yesterday (Wednesday 28 June).
The committee’s annual report on the UK Government’s progress in reducing emissions found that “policy development continues to be too slow” and confidence in the UK meeting its “medium-term targets has decreased in the past year.”
The report highlights that there continues to be a lack of available ESG data and that the private sector response is being “held back” in many sectors by “weak policy signals, uncertainty, and barriers to investment.” The report also recognises that EPC ratings are “poorly aligned” with net zero targets and are in “urgent need” of reform.
Commenting on the report, Elena Pérez Celis, Head of Policy & Public Affairs, said:
“We welcome the CCC report and its recommendations to the UK Government to advance its climate objectives.
The report should be a wake-up call for the Government to act with urgency to achieve its climate targets and retake a climate leadership role internationally.
The Government should work closely with the private sector to close the data holes in sustainability reporting as well as take further action to ensure finance starts flowing into the homes retrofit agenda.”