Building a net zero-aligned financial centre in the UK

This event launched our new policy briefing Building a Net Zero-Aligned Financial Centre: what next? The briefing was developed in collaboration with the Centre for the Understanding of Sustainable Prosperity (CUSP) along with our financial, corporate and civil society members.

At COP26, the Chancellor announced plans to create a net zero-aligned UK financial centre, with plans for a new climate-related financial disclosures regime, mandatory net zero transition plans and a UK Green Taxonomy. The Government published further details about this vision in Greening Finance: A Roadmap to Sustainable Investing (published October 2021). These new requirements are a welcome opportunity to ensure large corporates and financial institutions are able to disclose not only their exposure to risks which may arise as a result of the climate changing, but also for them to outline their contribution to climate change and their plans for cutting emissions.

At this event we provided an overview of the key findings and policy recommendations outlined in our new briefing Building a Net Zero-aligned Financial Centre: What next? In the briefing we call for rapid action to implement and strengthen the Government’s proposed reforms on climate reporting and disclosures. After a presentation of the briefing, an expert panel featuring speakers from across the financial sector and real economy companies offered insights on the implications of the new green finance policies for their sector, and what they see as the crucial next steps for achieving the UK’s vision of creating a world-leading green finance centre.

Welcome and chair

• Nick Molho, Executive Director, Aldersgate Group

Presentation of research findings and policy recommendations

• Josie Murdoch, Senior Policy Officer, Aldersgate Group

Panel

• Abyd Karmali OBE, Managing Director, Climate Finance, Bank of America
• Gavin Templeton, Partner, Pollination
• Jim Coleman, Head of Economics, WSP
• Karen Ellis, Chief Economist, WWF
• Sarah Wire, Senior Manager, Group Environmental Sustainability, Lloyds Banking Group