Green Finance Strategy: Govt seeks input as it prepares an update
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The government is calling for evidence for an update to its Green Finance Strategy due out in late 2022. The 39 questions include some on asset owners and data. The consultation closes on 22 June this year.
The questions, published jointly by the Department for Business, Energy & Industrial Strategy, the Department for Environment, Food & Rural Affairs and the Treasury, are divided into four key areas:
capturing the opportunity of green finance
mobilising finance for the UK’s energy security, climate and environmental objectives
greening the financial system
leading internationally
They range from opining on strengths, weaknesses and potential areas for growth to identifying barriers to private investment in the energy transition and natural capital, what green financial institutions should look like and how to measure progress.
The government is asking what the key characteristics of a Net Zero-aligned Financial Centre are and how these characteristics would apply to a typical UK-based asset owner or asset manager among others.
Two question focus on Scope 3 emissions data, which relate to supply chains. The government is seeking input on how important this data is for investors to assess and manage climate-related risks and opportunities.
It also wants to know if there is a role for the UK government to support businesses to make “good quality Scope 3 emissions disclosures”, including SMEs in the value chain of disclosing entities.
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Will you be responding to the call for evidence? What are your thoughts?
