Press release

11 May 2021 London, GB

Matthew Bell, EY UK & Ireland Climate Change & Sustainability Leader, comments on Queen’s Speech

Matthew Bell, EY UK & Ireland Climate Change & Sustainability Leader, comments on Queen’s Speech

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Our world faces a host of economic, social and environmental challenges. Environmental sustainability stands out as one of the most important tests of our generation, and the announcements made today in the Queen’s Speech are positive steps in the fight against climate change.

“Confirmation that the Environment Bill is expected this term of Parliament, the Net Zero strategy in Autumn, and legislation to set binding emissions targets, will hopefully set firm commitments and support the UK government’s intentions to be a global leader in the green industrial revolution.

“But there is no time to waste. Businesses need clarity on the actions and targets for 2021 and beyond, today.

“The appropriately ambitious target to reduce emissions 78% from 1990 levels by 2035 will require action from all sectors. Coordination and certainty in the policy runway to achieve this will enable businesses to invest appropriately, and for capital markets to reward that ambition.

“For that process to begin in earnest, society and business need to understand what will be expected of them now and in the future.”