The UK Energy Secretary, Ed Miliband, has outlined plans to support banks and large companies in developing climate transition plans. To date, about 70% of FTSE 100 companies have voluntarily developed many of the key elements of a transition plan. The UK Government says that widespread transition planning will help provide long-term certainty and clarity to help scale the sustainable finance industry. 

Since July 2024, over £40bn of private investment has been funnelled into the UK’s clean energy industries – driving long-term growth.

As part of the UK Government’s ‘Plan for Change’, it wants to help stimulate billions of pounds a year of private investment to deliver its clean energy superpower mission and make the UK the sustainable finance capital of the world.

To support this growth, the government will take forward recommendations from last year’s Transition Finance Market Review to consult on transition plan requirements in order to catalyse the growing transition finance market. The design of any future transition plan requirements will be aligned with the Prime Minister’s commitment to reduce regulatory compliance costs by 25%.