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The future of UK green finance policy and implications for the banking sector
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On 9 November, Chancellor of the Exchequer Rishi Sunak delivered a statement to the House of Commons setting out the government’s ambition for the future of UK financial services. One of the core objectives of the government’s policy is to position the UK as a global leader in green finance ahead of the 2021 United Nations Climate Change Conference (COP 26), and the statement sets out a host of new proposals aimed at supporting capital flows for the purpose of sustainable investment. Green finance is also a key tenet of the government’s broader strategy to rebuild the UK economy following the COVID-19 pandemic with a greater focus on sustainability.
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