SRI Service opposes backtracking on UK climate strategy

Below is a collection of links that summarise  content and early responses to UK Prime Minister Rishi Sunak’s climate announcement, delivered yesterday, 20 September 2023.

Our response is presented in this format as we are currently working on our 5th October annual Good Money Week event for wealth managers and financial advisers, where this will no doubt be a live topic of conversation.

But in brief – it won’t surprise those who know us to learn that we are deeply disappointed (read as ‘furious’) with the changes – as well as the tone which implies being seriously concerned about climate risk – and wanting the UK to lead (ie not be the same as others) – is slightly odd, or ‘niche’.

SRI Services stands with those, such as UKSIF, who are opposed to this unwelcome, backward step in the UK’s climate journey – and would like to encourage the government to pay far closer attention to the detail contained in the 2023 Climate Change Committee report, written by experts tasked with advising the government on this topic.

Our view is that swift climate action is crucial, and that business certainty and true leadership are good for the UK, good for business and good for investors.

• https://www.bbc.co.uk/news/uk-politics-66875867https://www.ft.com/content/02ecb92e-1e67-4db1-ad73-6c0e76bdc6ca
• https://www.theguardian.com/politics/live/2023/sep/20/rishi-sunak-net-zero-targets-car-industry-uk-politics-live
• https://www.independent.co.uk/news/uk/politics/rishi-sunak-net-zero-seven-bins-b2415824.html
• https://www.politico.eu/article/king-charles-iii-climate-action-britain-pm-rishi-sunak-net-zero-u-turn/
• https://www.reuters.com/world/uk/uk-interior-minister-braverman-we-need-pragmatic-approach-net-zero-2023-09-20/