We note that many business leaders have reacted with disgust over rumours that the PM is about to roll back some the UK's climate committments, see independent article here, we will listen to the PMs speech (if it is broadcast) and react once we have the detail, we note that the EU published its 'Energy Efficiency Directive' earlier today (see our earlier post here).
Our view is that the current committments and associated policies do not go far enough, given the scathing comments of the Committee on Climate Change (CCC) regarding the UK unpreparedness as highlighted in their reports earlier this year (which can be found here), and that any roll back will result in more damage from extreme weather events that will cost more in the future.
We will comment further once the speech and any resulting policy changes are announced.