The UK Green Finance Strategy from 2019 is being updated this year. The CBI extensively consulted members on what policy is needed to increase money flows to transition to a net zero economy by 2050 – read our response.
What was the consultation about?
The UK government published the consultation to support its update of the Green Finance Strategy, planned for publication in late 2022. The original Strategy published in July 2019 had three objectives:
- Greening finance by supporting the financial services sector to align with the UK’s net zero commitment, the need to adapt to climate change and the UK’s commitment to nature’s recovery.
- Financing green by mobilising private investment at scale to support clean and resilient growth.
- Supporting financial services to capture the opportunity presented by the transition to a net zero and nature-positive economy, cementing UK leadership in green finance and ensuring that businesses can benefit
The aim of the consultation was to take stock of progress so far and set out how the UK can better ensure the financial services industry is supporting the UK’s energy security, climate and environmental objectives in the updated Green Finance Strategy.
Why is it important for businesses?
The review of the Green Finance Strategy is very timely. The business community is actively working on greening their operations and increasing sustainable finance flows. However, further policy clarity from the government is needed for UK corporates to successfully support the UK’s energy security, climate, and environmental objectives, while catalysing growth across the whole economy. The CBI has outlined some of our proposals on how to tackle this in our paper Financing the Transition to a Sustainable Future from October 2021
The updated strategy is expected to provide more clarity on opportunities for the UK when it comes to green finance, policies supporting the UK’s energy, security, climate and environmental objectives and, the regulatory environment for greening finance and, last but not least, international opportunities.
What did the CBI ask for?
This CBI’s extensive response builds on three guiding principles outlined in our 2021 paper and represents a broad consensus on sustainable fina
Exclusive My CBI member-only content 
