Extend net zero planning to all big companies or risk climate goals, Rishi Sunak warned

Exclusive: Major private firms say failure to extend transition planning threatens UK’s ambition to be world’s first net zero-aligned financial centre

Failure to require all large private companies to publish their net zero transition plans puts the UK’s climate goals at risk, Rishi Sunak has been warned.

Under current rules, only firms listed on the FTSE 100 index – the biggest on the London Stock Exchange – are required to disclose how they will decarbonise their businesses by 2050.

But major private firms have told The Independent that failure to extend the scheme not only puts the UK’s climate goals in jeopardy but also presents a risk to businesses that could face increased costs and reduced access to capital if they don’t have credible plans.