Aviva Investors, the UK Sustainable Investment and Finance Association and Tribe Impact Capital are among the investors and groups which have signed a letter from a 400-strong group of organisations to UK Prime Minister Rishi Sunak urging him not to weaken any net zero policies. On Wednesday (20 September), Sunak announced a U-turn on several net zero policies in what he described as a “more pragmatic, proportionate and realistic approach to meeting net zero”. This included pushing back a ban on the sale of petrol and diesel cars from 2030 to 2035 and weakening plans to phase out the installation of gas boilers by 2035. In the letter to Sunak, the organisations say they have already made substantial investments in the net zero transition and made it clear that sticking to long-term net zero policies is crucial to build business confidence and mobilise investment. “Watering down these policies would damage the UK’s credibility as a good place for green investment, undermining British competitiveness. We are already losing investment to the US and EU, and rowing back would make it worse.”
Over 4️⃣0️⃣0️⃣ businesses and NGOs including @UKSIF, @Nestle, @IKEA, @AvivaUK and @eonenergyuk have written to @RishiSunak to call for #CredibleClimateLeadership and express concern at plans to water down the UK's #NetZero policies.
Read the letter here 👇https://t.co/nIEg2ksauC
— E3G – Third Generation Environmentalism (@e3g) September 20, 2023