Companies: Carbon Emissions

Department for Business, Energy and Industrial Strategy written question – answered on 21st July 2022.

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Photo of Lord Kennedy of Southwark Lord Kennedy of Southwark Shadow Chief Whip (Lords), Deputy Chairman of Committees

To ask Her Majesty's Government what plans they have, if any, to encourage greater transparency among UK companies accused of exaggerating their environmental commitments, commonly termed as greenwashing, to prevent this from adversely impacting the Government’s Net Zero strategy.

Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

Businesses have a vital role to play in helping us to meet our net zero target and are encouraged to join the UN-backed Race to Zero, with 7,552 already setting credible and robust targets and outlining plans to deliver on these targets.

‘Greening Finance: A Roadmap to Sustainable Investing’ sets out how the Government will ensure decision-useful information on sustainability is available to financial market decision-makers, helping to combat potential “greenwashing”. The UK is also requiring asset managers, regulated asset owners and listed companies to publish transition plans that consider the government’s net zero commitment or provide an explanation if they have not done so.

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