What role to financial institutions play in achieving net zero? EAC questions experts
As it continues gathering evidence on The financial sector and the UK’s net zero transition, the Environmental Audit Committee hears from Green Alliance, the Carbon Tracker Initiative, the Centre for Climate Finance and Investment and the Green Finance Institute.
The session offers Committee members the opportunity to explore further the role of financial institutions in achieving net zero and to understand the ways in which the Government can support and work with the financial sector in decarbonising the UK economy. Among the issues likely to be discussed are:
- Transition from fossil fuels and carbon intensive technologies;
- Investment into green and low carbon technologies;
- Policy and regulation;
- Taxonomy, data and disclosure;
- Progress of the Glasgow Financial Alliance for Net Zero (GFANZ) and other global alliances.
Among the organisations giving evidence is the Carbon Tracker Initiative. Earlier this year, EAC wrote to signatories to GFANZ regarding their net zero investment policies: Carbon Tracker conducted a high-level evaluation of the published responses, finding that there was a “drastic lack of investor action to address the responsible retirement of fossil fuel assets”.