The Chancellor, Rishi Sunak is expected to announce plans today for UK listed companies to publish annual plans on becoming more sustainable, or risk financial penalties.

Under the new Treasury rules, financial institutions and companies with shares listed on the London Stock Exchange must come up with net-zero transition plans, which will be published from 2023.

According to the BBC, companies will have to set out detailed public plans for how they will move to a low-carbon future - in line with the UK’s 2050 net-zero target. Plans will be submitted to an expert panel to ensure they are not just spin. But net-zero commitments will not be mandatory and green groups say the proposals do not go far enough.

In a linked announcement, the Chancellor is expected to say that more than 450 firms from all parts of the financial industry have signed up to climate change goals. It means more than $130 trillion of financial assets – 40% of the world total – will be controlled by financial services firms committed to reducing global warming.

  • Sustainability will be a topic of discussion at MCA’s Restaurant Conference today. For more information and to book tickets, click here