ICAEW calls for new governance structure to achieve net zero by 2050

The Institute of Chartered Accountants in England and Wales (ICAEW) has called for the government to implement a new governance structure to help the UK achieve net zero by 2050.

The ICAEW believes the UK government should establish a net zero implementation board which should be given cross-governmental responsibility for net zero planning.

The Institute also recommended that the government provides businesses with a detailed plan to reach net zero in key parts of the UK economy, such as energy, housing and transport. This would allow businesses to build up skills, investment and capability in their workforces, the ICAEW stated.

It suggested that the COP26 summit in November could be a target date for the government to publish its net zero delivery plans.

Iain Wright, Managing Director for Reputation and Influence at the ICAEW, said: 'Achieving net zero will require the whole country to work together.

'The longer we as a country leave this, the more difficult, disruptive and expensive the transition will be.

'There is no clear structure for the UK to reach the target by 2050. There's no clarity or co-ordination between government, the devolved nations, local authorities and business and we need leadership to spearhead this important goal.'

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