Energy Efficiency and Sustainability

05.07.19

Government launches Green Finance Strategy to tackle climate change

The government will launch a new Green Finance Strategy that intends to boost sustainable investment, with an expectation for listed companies to disclose how climate change impacts their work.

The strategy, the government hopes, will help make the UK an international hub for expertise and funding that supports greener investment.

Speaking at the third Green Finance Summit in London, City minister John Glen will argue that financial services will have a bigger role to play than any other sector in tackling climate change.

Energy and clean growth minister, Chris Skidmore, said: “As the first major economy to legislate to reach net emissions by 2050, green finance can play a crucial role in our mission to protect the planet while growing the economy.

“Through today’s plans and by putting clean growth at the heart of our modern Industrial Strategy we’ll continue to work with our leading financial services sector to drive even more ambitious action.”

The strategy sets out plans to increase investment in sustainable projects and infrastructure, while ensuring the UK remains meets its net zero carbon emissions target by 2050.

It will also build on findings from the Task Force on Climate-related Financial Disclosures, led by former New York Mayor Michael Bloomberg and Bank of England Governor Mark Carney.

This includes setting expectations for publicly listed companies and large asset owners to disclose by 2022 how climate change risk impacts their activities.

For more on the government’s Green Finance Strategy, read here.

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