Policy in practice: pre-election 2024 – ESG

In this episode of our pre-election policy in practice podcasts, David Gauke and Rachel Richardson discuss ESG policies outlined in the Labour and Conservative manifestos.

They cover:

• the proposed climate policies;
• green finance initiatives;
• Labour's proposed solutions to make the UK more attractive for private capital, including a National Wealth Fund and the Energy Independence Act; and 
• Labour's broader environmental strategy involving an emphasis on sustainable farming practices and national biodiversity improvements.

If you would like more information or want to discuss any of the topics in this podcast, please get in touch with David and Rachel.

Find all of our UK General Election content on this General Election 2024 hubpage.

Episode summary

In the latest of our pre-election policy in practice podcast episodes, David Gauke, head of public policy at Macfarlanes, is joined by Rachel Richardson, head of ESG, to discuss the environmental and social governance (ESG) policies outlined in the Labour and Conservative manifestos ahead of the UK General Election.

David and Rachel begin their conversation with Labour’s ambitious green policies. Labour’s manifesto emphasises transforming the UK into a green finance capital and focusing on clean energy initiatives. Rachel then points out three core areas of difference between the Labour and Conservative parties: namely oil and gas policies, green finance, and net zero targets, and how Labour also commits to making the UK the green finance capital of the world and restoring the Bank of England’s mandate to consider climate issues.

The discussion then moves to the potential impacts on private capital investment, noting Labour’s identification of planning rules and grid access as barriers to clean energy investments. Labour proposes solutions to these issues, potentially making the investment landscape more attractive for private capital. They also plan to establish a National Wealth Fund and introduce the Energy Independence Act, aiming to co-invest with private capital in green projects.

The podcast concludes with a short discussion around Labour’s focus on sustainable farming and improving national biodiversity as part of their broader environmental strategy.

If you would like a full written transcript of this podcast, please get in touch.