IIGCC responds to updated UK Nationally Determined Contribution (NDC)

Stephanie Pfeifer, IIGCC CEO, responds to the UK’s updated Nationally Determined Contribution (NDC), announced 12 November 2024 at COP29: 

We welcome the early publication of the UK’s ambitious NDC, which commits to reducing greenhouse gas emissions by 81% by 2035. This statement of intent signals UK leadership on climate and offers a valuable opportunity to attract clean energy investments, spur clean growth, and strengthen investor confidence in the country’s climate trajectory.   

Working towards this goal will also ensure the UK makes a credible contribution to limiting global warming to 1.5°C above pre-industrial levels. 

We now look forward to further details underpinning the new NDC. A clear delivery plan, particularly for sectoral decarbonisation, will be essential for attracting private finance and making NDCs a central tool in reducing emissions. Ensuring they are investable by defining the role of private finance is crucial to closing the climate finance gap.  

As one of the first countries to publish an updated NDC ahead of the February 2025 deadline, the UK makes clear that it intends to lead. This early, ambitious step can have a ripple effect, building confidence in other countries to increase their own commitments.  

Now is the time for others to follow suit. Impactful NDCs can maintain international momentum and demonstrate to investors that the transition to a net zero economy is key to long-term growth. They are ready to support and amplify this impact. 

About IIGCC: IIGCC has more than 400 investor members across 27 countries, representing some EUR65 trillion in assets. Our members are already taking action to address the climate challenge in line with their individual investment strategies, in stewardship and engagement with companies and broader stakeholders, including policymakers.  

Disclaimer: All communications and initiatives undertaken by IIGCC are designed solely to support investors in understanding risks and opportunities associated with climate change and take action to address them. Our work is conducted in accordance with all the relevant laws, including competition laws and acting in concert rules. IIGCC’s services to members do not include financial, legal or investment advice. The views expressed here do not necessarily represent those of all IIGCC members.