{"id":13902,"date":"2023-09-20T20:04:51","date_gmt":"2023-09-20T20:04:51","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=13902"},"modified":"2023-09-20T20:04:55","modified_gmt":"2023-09-20T20:04:55","slug":"businesses-investors-push-back-on-uks-watered-down-climate-goals","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/businesses-investors-push-back-on-uks-watered-down-climate-goals\/","title":{"rendered":"Businesses, Investors Push Back on UK\u2019s Watered-down Climate Goals"},"content":{"rendered":"<!--themify_builder_content-->\n<div id=\"themify_builder_content-13902\" data-postid=\"13902\" class=\"themify_builder_content themify_builder_content-13902 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n\n\n<p>Automotive giant Ford issued a harsh response to UK Prime Minister Rishi Sunak\u2019s plan to push back the country\u2019s ban on the sale fossil fuel-based cars, arguing that the move will undermine government consistency needed to enable investment in the industry\u2019s transformation.<\/p>\n\n\n\n<p>The government, under former PM Boris Johnson, <a href=\"https:\/\/www.esgtoday.com\/pm-johnson-unveils-plan-for-green-industrial-revolution-uk-to-ban-petrol-and-diesel-cars-in-2030\/\">announced in 2021<\/a> that the UK will end the sale of new petrol and diesel cars and vans by 2030, as part of a series of \u201cGreen Industrial Revolution\u201d commitments and investments that also included measures to scale the production of clean and renewable energy, reduce the carbon footprint of homes and other buildings, increase carbon capture capacity and support the development of climate solution technologies.<\/p>\n\n\n\n<p>Sunak announced today, however, that in order to \u201cease the burden on working people,\u201d he will delay or eliminate several of the UK\u2019s climate initiatives, including pushing back the ban on petrol and diesel car sales by 5 years to 2035, delaying and easing rules to transition away from oil and gas boilers and towards heat pumps, and removing home energy efficiency requirements, as well as ending moves to incentivize reduced air travel and meat consumption.<\/p>\n\n\n\n<p>In a statement posted on Ford\u2019s website, Lisa Brankin, Ford UK Chair said that the auto industry has been investing to meet the 2030 deadline, and noted that the company has already invested \u00a3430 million on development and manufacturing facilities in the UK, \u201cwith further funding planned for the 2030 timeframe.\u201d<\/p>\n\n\n\n<p>Brankin added:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cOur business needs three things from the UK government: ambition, commitment and consistency.&nbsp; A relaxation of 2030 would undermine all three.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>Sustainable investment groups also warned of the potential impact of policy uncertainty on the UK\u2019s ability to attract capital flows driving the climate transition. In a statement posted following Sunak\u2019s announcement, Institutional Investors Group on Climate Change (IIGCC) CEO Stephanie Pfeifer said that \u201cclear and consistent policymaking is a prerequisite for investors looking to make long-term investment and asset allocation decisions and for maintaining their confidence.\u201d<\/p>\n\n\n\n<p>Pfeifer added:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cSimply put, the UK risks missing out on considerable investment if the government continues down its current path.\u201d<\/p>\n<\/blockquote><span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>Automotive giant Ford issued a harsh response to UK Prime Minister Rishi Sunak\u2019s plan to push back the country\u2019s ban on the sale fossil fuel-based cars, arguing that the move will undermine government consistency needed to enable investment in the industry\u2019s transformation. The government, under former PM Boris Johnson, announced in 2021 that the UK [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":13903,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[6,31,2],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Businesses, Investors Push Back on UK\u2019s Watered-down Climate Goals - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/businesses-investors-push-back-on-uks-watered-down-climate-goals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Businesses, Investors Push Back on UK\u2019s Watered-down Climate Goals - ESG Today\" \/>\n<meta property=\"og:description\" content=\"Automotive giant Ford issued a harsh response to UK Prime Minister Rishi Sunak\u2019s plan to push back the country\u2019s ban on the sale fossil fuel-based cars, arguing that the move will undermine government consistency needed to enable investment in the industry\u2019s transformation. 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