The UK Government has set in law the world’s most ambitious climate change target, to cut emissions by 78% by 2035, to bring it more than three-quarters of the way to net zero by 2050. Given the scope of this economy there is an urgent need to understand the transition roadmaps and state of alignment of key industries, including the financial sector, with this unfolding race to net zero.
The Treasury has launched both the National Infrastructure Bank and green gilts to reach net zero targets, but – given the costs of decarbonisation are expected to reach £50 billion a year by 2030 alone – there is a clear need for private markets to play a considerable role.
Net zero represents an opportunity to marry smart investment with public purpose and is also a fiduciary imperative given the implications for financial risks and returns. This event will consider the best ways to assess the alignment of the economy and portfolios to this transition as well as ways policymakers can best unlock institutional finance to support decarbonisation, including how institutions such as the Bank of England, regulators and HM Treasury can be retooled for the challenge.
We will discuss the investment prospects for the private and public sectors, from electric vehicles to hydrogen and carbon capture and storage, and explore how the Government can support markets to align themselves to seize the opportunities and navigate the pitfalls.