Autumn Statement 22: Sustainable investors unconvinced by climate commitments

Questioning meat behind words

The Autumn Statement was filled with rhetoric surrounding the UK's commitment to climate change, but the sustainable investment community are questioning the meat behind these words and the consequences of new taxes on low energy options.

In the section of the statement dedicated to growth, Chancellor Jeremy Hunt reiterated the importance of battling climate change to the UK's future. "Cheap, low carbon, reliable energy must sit at the heart of any modern economy," he stated. "Unless we act radically, we will bankrupt our economy and ruin our planet". Hunt then proceeded to confirm the government will proceed with nuclear plant Sizewell C, a £700m investment. He also outlined a "new ambition" to reduce energy consumption from buildings and industry by 15% by 2030 along with new funding of £6bn from 2025 for energy e...