Page 23 - Yearbook 2020

ENVIRONMENT
In conversation with Lee McBride
There is no doubt that 2020 will be remembered as the year for making bold plans for protecting the environment.
The recent EU Green Deal – which pledges climate neutrality (net zero greenhouse emissions and 100% clean energy capacity by 2050) was followed in November by the UK Government’s 10 Point Plan for a green industrial revolution, which “is likely to affect all business sectors in the coming years” according to Partner and Environment Specialist, Lee McBride.
“The ambitious 10 Point Plan includes plans to end the sale of diesel and petrol cars, quadruple electricity produced from offshore wind, create 5GW of low carbon hydrogen production capacity (all by 2030) as well as the introduction of thousands of green buses and the creation of new cycle lanes. The Government also intends to extend the green homes grant voucher system in order to make homes, schools and hospitals more energy ef cient.”
He describes how “this initiative puts an even greater spotlight on the UK government to improve environmental
standards through, for example, further controls on the escape of heat from buildings and the introduction of environmentally-friendly technologies for energy production and transport.”
Lee considers that 2020 has also seen greater pressure on funders to invest in sustainable projects and require greater ESG disclosure, which will only continue.
Finally, for large corporates in particular, recent Supreme Court cases concerning the liability of holding companies for the actions of their subsidiaries will also be of concern to large companies going forwards (both in terms of reputational impact and funding opportunities). The Vedanta (2019) and Shell cases (heard in 2020) are likely to provide further speci c examples of how and when such liability can arise.”
As the world population continues to grow, a greater focus on the green agenda can only be a good thing. The next Conference of the Parties (COP26), to be hosted by the UK in Glasgow in November 2021, is eagerly awaited.
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