The United Kingdom can be the first country in the world, which will force private companies to provide a detailed plan for achieving carbon neutrality by 2050, Bloomberg reports. The country’s authorities have developed a Greening Finance Planet Saving Plan, which can be submitted already this week.
According to the draft document, the government by 2022 will complete the discussion of this issue with business. The first step will be a prescription for “specific companies” to publish the plans for the transition to 2050 to zero carbon trail. Otherwise, they need to “provide an explanation”, why no zero indicators can be achieved to the appointed date. Then for two to three years, the developed rules will be enshrined in regulatory acts. First, legislative regulation will affect large businesses, and consultations will be held with other companies. Authors Documents called on to develop the transition program now.
Although increasing number of firms and financial institutions undertake to achieve zero greenhouse gas emissions, only a few described the steps to achieve this goal in detail. Legislative coercion of companies to provide detailed information will be able to become a guide for investors and will help attract funds to more eco-friendly industries.
Earlier in October, a group of British companies and investors called for a mandatory publication of plans to achieve the zero energy consumption by 2025. The proposal sounded on the eve of the UN Climatic Summit, which will be held in Glasgow from October 31 to November 12. The United Kingdom as a meeting organizer promotes initiatives to reduce global emissions and investment in green projects.