Noel Brosnan attended a webinar by the Bank of England in January, and what was evident was that they, and financial institutions now see addressing the Climate Change emergency as the biggest priorities for all business sectors and individuals. To encourage all to get on board the following measures are likely to be seen over the next few years:
- Energy cost are likely to rise
- Carbon taxing will be introduced
- Climate Biennial Exploratory Scenarios (CBIS) will increasingly be requested by financial institutions
- Climate Disclosure will become mandatory for large companies from 2025 (large to be defined by BEIS) (this will be an annual return)
- Metrics to be established for measuring performance, one measured discussed was the Temperature Path, e.g. is your organisation doing nothing, then you are on a path to 3 degrees rise in temperature.
The advice from Bank of England is :
- Act now
- Collaborate
- Do not let imperfection be an excuse for a lack of action.
As Mark Carney stated in his recent Reith Lecture on Climate Change , you should start by asking what are you doing, and then what is your employer is doing to reduce your carbon footprint and an enable the delivery of Net Zero Carbon.
The Government Energy White Paper – Powering our Net Zero Future ( Dec 2020) : details the Government road map for all sectors.
Read the paper in full in the link below
The Government Energy White Paper
