Why businesses should ignore Rishi Sunak’s ESG U-turn

In one of his most significant policy changes to date since taking office, the UK’s prime minister, Rishi Sunak, announced in September 2023 a U-turn on his government’s ESG (Environmental, Social, Governance) commitments.

Here, we briefly respond to our prime minister’s decision, before outlining the continued importance of ESG in our planet’s future — particularly for businesses — and offering some next steps.

In response to Rishi Sunak

The UK will now push back its deadlines for ending the sales of new petrol and diesel cars and the phasing out of gas boilers. From all angles — inclusive of activists, industry, and across the political spectrum — this uncertainty has been condemned.

Rishi Sunak expressed concerns about “losing the consent of the British people” by going ahead with previous commitments. While there is concern regarding the cost of living crisis and the impact on people’s pockets, polls consistently show most people are behind our transition to net zero. In fact, this U-turn backlash can be seen as all things ESG becoming increasingly high-profile.

Regardless of these green target U-turns, one thing is clear: ESG matters.

Businesses in particular can create very real, tangible change — they can implement sustainable practices, embed social values for their people and communities, and encourage transparency in leadership. There may be no set, worldwide standards or regulations for compliance and reporting of ESG policy and practice (for now), but more businesses than ever are embedding ESG into their business strategy and regular operational practices.

ESG is important for businesses — keep going

It goes without saying: our planet is the most important thing on… well, the planet.

If your business is already on its ESG journey, please continue.

If your business hasn’t yet looked at ESG, please consider it.

We have faith that, soon, our government will catch up.

We’re here to help

Are you a business in BANES starting from scratch with your ESG policies? Maybe your business has its ESG journey lined up, but needs support promoting it internally and externally to reap the rewards?

Transform ESG are ready and raring to help you help save the planet.

We support local, national, and international businesses in building their ESG from scratch through to engagement with key stakeholders and supporting on delivery. Our philosophy focuses on three things: actionable habits, future-proofed actions, and being people-focused. Our methodology looks at five key steps: assess, goals, engage, action, and lead.