Taking forward the UK Green Finance Strategy and climate transition plans

On 12 May 2022, the UK Government published a Call for Evidence (CfE) for an update to its Green Finance Strategy (published in 2019). The revised strategy will reflect the progress made since 2019 and support the UK Government’s commitment that the UK remains a leader within the global green finance market.  The revised strategy will also look at how to make sure the financial services industry supports the UK’s energy security, climate and environmental objectives.

Additionally, the Transition Plan Taskforce published on 11 May 2022 a CfE on a framework for UK companies across all sectors to provide standardised and actionable climate transition plans. This follows the Chancellor’s announcement at COP26 and HM Treasury’s roadmap for sustainable investment published in October 2021. The CfE will inform new detailed requirements for a Sector-Neutral Framework for publishing robust transition plans that include information on strategies and action plans for meeting declared decarbonisation commitments and accelerating the transition to net zero. These requirements will form part of the UK’s Sustainable Disclosure Requirements (SDRs).

Download this At a glance for a detailed summary of the two CfEs and what they mean for firms.