This morning Amber Rudd, Secretary of State for Energy and Climate Change, addressed delegates at the Business and Climate Summit. She discussed the future of climate change in Britain following decision to leave the EU. The Institutional Investors Group on Climate Change (IIGCC) has responded to the speech.
Stephanie Pfeifer, CEO at the IIGCC, said: “If tomorrow the UK Energy minister Amber Rudd MP confirms that the UK Government has chosen to accept and implement in full the advice of the independent CCC based on the latest climate science, then investors will be delighted. IIGCC has been pressing for this.
“Against a backdrop of intense uncertainty arising from the Brexit decision it is vital the UK government uphold its commitment to action on climate change by setting a strong 5th Carbon Budget. Such a step can only help reinforce the unequivocal long term signal put in place by the Paris Agreement designed to give big investors greater confidence in the low carbon transition.”