In September 2017, the government asked leading finance expert and former Mayor of London Sir Roger Gifford to chair an independent taskforce to accelerate growth of green finance and the UK’s low carbon economy.
The Green Finance Taskforce report sets out a series of recommendations on how the government and the private sector can work together to make green finance an integral part of our financial services. These include:
- boosting investment into innovative clean technologies
- driving demand and supply for green lending products
- setting up Clean Growth Regeneration Zones
- improving climate risk management with advanced data
- building a green and resilient infrastructure pipeline
- issuing a sovereign green bond
The government’s Green Finance Strategy was published on 2 July 2019. It supports the UK’s economic policy for strong, sustainable and balanced growth, the delivery of our modern Industrial Strategy and our domestic and international commitments on climate change, the environment and sustainable development. It is the government’s response to the recommendations of Green Finance Taskforce.