EU referendum – PwC comments on the impact on environmental issues

EU referendum – PwC comments on the impact on environmental issues

Jonathan Grant, Director, PwC sustainability and climate change, said:

“The referendum’s outcome is a major setback for the type of collaboration needed to tackle global environmental issues like climate change.

“The UK government has been a champion of climate action at home, within the EU, and in the Paris climate talks. However this leadership is at risk, with many supporters of Brexit also opposed to climate policies such as carbon taxes and efficiency standards. The immediate priority will be to provide reassurance to investors to avoid undermining the low carbon sector.

“Any further uncertainty will unsettle the carbon market, with the price of EU carbon credits already falling sharply when trading opened this morning.”