October 2023
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This conference brought together key stakeholders and policymakers to discuss next steps for funding the net zero transition across industries and local areas, and the development of green finance in the UK.
It was an opportunity to examine HM Treasury’s Mobilising Green Investment - 2023 Green Finance Strategy.
Delegates assessed the Government’s plans for public funding and private investment to support creation of the green technologies, products and services that will be needed to achieve climate and nature targets at national and local levels.
They also discussed wider strategy for transitioning the economy to align with net zero policy ambitions, including the goal to make the UK the world’s first net zero-aligned financial centre.
Areas for discussion included:
- priorities for regulation and investment labelling, including the way forward for sustainability disclosure requirements, and the consultation on the green taxonomy expected this autumn
- how to enhance trust and confidence in sustainable investment products, and priorities for widening access to the sustainable capital market
- improving support for SMEs and high-emitting industries through the net zero transition
- how to develop and deliver effective green finance initiatives at a local and regional level, including the interaction between green finance, climate change adaptation, local communities and their economies
We are pleased to have been able to include keynote sessions with Kim Wilkinson, Head, Green Finance Unit, HM Treasury; Heather Buchanan, Chief Executive, Bankers for Net Zero; Alicia Kedzierski, Head of Environmental, Social and Governance Department, Financial Conduct Authority; and Professor Hisham Farag, Professor of Finance and Director of Research, Birmingham Business School; and Founding Director, Sustainable Financial Innovation Research Centre.
Sessions in the agenda included:
- regulation: frameworks for sustainable finance governance - building incentives and capabilities - options for wider sustainability-related measures
- transition finance: Sustainability Disclosure Requirements and the green taxonomy - data and reporting standards - transition plans
- SMEs: developing effective sustainability reporting - tackling barriers to SME action on climate change
- adaptation finance: priorities for building climate resilience - minimising risks to infrastructure and communities
- local-level green finance: connecting smaller projects with finance - creating opportunities for jobs and local growth - aligning net zero and the levelling-up agenda
- policy: steps for enabling green and sustainable finance in the UK
The conference was an opportunity for the stakeholders to consider the issues alongside key policy officials who attended from the CCC; DAERA, NI; DBT; Defra; Department for the Economy, NI; DESNZ; Department of Finance, NI; DfE; DfT; DLUHC; DSIT; DWP; FCDO; Forestry Commission; GLD; HM Treasury; Home Office; Isle of Man Government; MCA; NAO; OEP; Ofwat; ONS; UKEF; UKIB; UKSA; VOA; The Scottish Government; and the Welsh Government.
