UK will be ‘first net-zero aligned’ financial centre, says Sunak
Chancellor Rishi Sunak has spoken at COP26, using the platform to promise to turn the UK into “the world’s first net-zero aligned financial centre”. This involves requiring listed companies in the UK to publish their plans for transitioning to low-carbon business by 2023. These plans must include targets to mitigate climate risk; detail interim goals to 2050, and the measures necessary to meet them. The ministry said: “There will be new requirements for UK financial institutions and listed companies to publish net-zero transition plans that detail how they will adapt and decarbonise as the UK moves towards a net-zero economy by 2050.” A notable omission from Sunak’s plan is any mandatory commitment to net zero for companies or a ban on investment in carbon-intensive activities. Investors…