In 2019, the UK became the first major
economy to commit in law to net zero
greenhouse gas emissions by 2050. In 2021,
the government went further, setting in law
the world’s most ambitious climate change
target to cut emissions by 78% by 2035
compared to 1990 levels. To achieve this,
the whole economy will have to transform.
The Intergovernmental Panel on Climate
Change (IPCC) is clear that immediate, rapid,
and large-scale reductions in greenhouse
gas emissions are needed. This transition
cannot be achieved without a significant shift
of investment into sustainable projects and
green technology. The financial system is
therefore critical to achieving net zero and
protecting the UK’s natural environment.

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