Green Finance Strategy published
Her Majesty's Treasury in conjunction with the Department for Business, Energy and Industrial Strategy (BEIS) developed a new policy paper to help provide a comprehensive approach to greening UK's financial systems, mobilising finance for clean and resilient growth and capturing the resulting opportunities.
The new strategy recognises the role of the financial sector in delivering global and domestic climate and environmental objectives. It sets the proposals for green finance that will aim to deliver the UK's crucial strategies:
It also sets out how the proposals will support the UK's economic policy for strong, sustainable and balanced growth.
It is divided into three chapters:
- Greening Finance - outlining the transition for countries, industries and institutions to move to green finance through mainstreaming the environmental and climate factors into the UK's financial system;
- Financing Green - the document established that the green transition would require a great amount of funding to meet the Paris Agreement pledges, therefore all compliant parties will need to increase investment in low carbon technologies, services and infrastructure. That has been made easier thanks to the Green Investment Bank that the UK has set up;
- Capturing the Opportunity - this chapter explains how the Government, working with the Green Finance Infrastructure, will support the private sector in the delivery of their ambition. This will require consolidation of the UK and global green finance, positioning the UK at the forefront of any green financial innovation, and in building up the skills and capabilities of green finance.
For more information on this subject, see:
