Regulatory Round-up: UK to miss emissions reduction goals; objections to the EU Green Bond Standard

The UK is failing to deliver on its ambitious climate targets trumpeted during its presidency of COP26 last November, according to the Climate Change Committee. In its latest report to parliament, the committee says that, despite achievements in renewable energy and electric vehicles, current programmes will miss the government’s emissions reduction goals, with the lack of progress on land use and home insulation a particular concern.

The Association for Financial Markets in Europe has warned that the EU commission, parliament and council need to go back to the original objectives for the EU Green Bond Standard in their current negotiations on the issue. A paper says that a recent parliamentary report would substantially extend the coverage of the label, which would capture all bonds marketed in the EU as environmentally sustainable. Afme fears that this would harm the EU green and sustainable bonds market. Instead its priorities are maintaining the standard’s voluntary nature and its strong link with the EU green taxonomy.