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But the government has drawn criticism regarding its ability to achieve agreed climate targets – such as a 100% reduction of greenhouse gas emissions by 2050 compared with 1990 levels – even from its own ClimateChange Committee. In May, a High Court ruling ordered it publish a revised net zero strategy.
Additionally, the World Benchmarking Alliance’s 2022 update to its Financial System Benchmark , which assesses 400 of the world’s most influential financial institutions on their progress supporting a just transition, highlighted that the financial system is “a long way off from global expectations on climatechange”.
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