Britain moves ahead with mandatory climate plans for companies
April 25, 2022, 7:24 am

Britain moves ahead with mandatory climate plans for companies

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The World Energy reported, citing Reuters, Britain unveiled a new taskforce on Monday (Apr 25) to write rules forcing financial firms and listed companies to publish plans from next year for transitioning to a net zero economy by 2050.

Last November at the COP26 UN Climate Summit, British finance minister Rishi Sunak said companies would have to publish a plan from 2023 with targets to mitigate climate risk, interim goals between now and 2050 and measures to meet them.

It is part of Britain's commitment to make the UK the world's first net-zero aligned financial centre.

The finance ministry said in a statement on Monday (Apr 25) that the taskforce will develop "rigorous and robust" measures to tackle greenwashing - inflated green credentials - and support companies to establish "investable and accountable" transition plans.

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Amanda Blanc, CEO of insurer Aviva and co-chair of the new Transition Plan Taskforce, said: "Preventing the worst impacts of climate change will take all businesses developing ambitious, consistent transition plans to get us to a low carbon future."

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It has a two-year mandate to set up good practices for transition plans, along with a 'sandbox' to test the new plans.

Source: worldenergy

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”