Political parties should focus on long-term thinking and stable policies if they are to finance the transition to a net zero economy, according to a UK fund manager.
Angus Whiteley, chief executive of UK-based private markets investor Stafford Capital Partners made his comments in reaction to the UK’s political parties’ decisions to roll back on their various climate commitments.
In February, the Labour party announced it would halve its £28 billion green spending plan while the Conservative party ditched some of its key climate pledges back in September 2023.
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Whiteley said that a bi-partisan political consensus in favour of stable policy settings would help secure the long-term financing needed to address the current climate crisis.
“Short term policy shifts by both major parties in the UK, to address short term fiscal imperatives, will erode the stability needed to finance the transition to a sustainable economy,” said Whiteley.
With more than half of the world’s population going to the polls this year, climate change investment is likely to be a key issue in some significant elections, warned Whiteley.
“In that context, moving the climate emergency off the short-term political agenda has never been more important,” he said.
