Legal & Regulatory News

UK's Environmental Audit Committee launches call for evidence on the financial sector and the UK's net zero transition

On 30 May 2022, the UK's Environmental Audit Committee (EAC) launched a call for evidence (Call for Evidence) regarding the role of the financial sector in the UK's net zero transition.

The Call for Evidence seeks stakeholder views on the role of private finance in decarbonising the economy, in particular with regards to the following terms of reference:

• corporate approaches to financing existing/planned fossil fuel projects;
• the effectiveness of the financial sector in encouraging decarbonisation of the economy in time to limit global temperature rises to 1.5C;
• reducing investment in fossil fuel extraction;
• current/planned investments in renewable energy generation, storage and distribution;
• the effects (if any) of the disruption to supply chains and energy markets arising from the 2022 Russian invasion of Ukraine on disinvestment plans, and what is being done to mitigate any such effects; and
• likely pathways to the responsible retirement of fossil fuel assets

The deadline for submissions is 5pm on Thursday 30 June 2022.

Click here to access the Call for Evidence.