Responding to the publication of the Green Finance Taskforce report today, Paul Chisnall, Director of Financial Policy and Operations at UK Finance, commented:
“This report sends a strong signal that the UK is serious about meeting its Paris Agreement commitments and is intent on providing a global lead in driving forward green finance.
“The actions outlined in the report and the 10 themes around which it is organised will further cement the UK’s role as the world’s green finance capital.
“Major banks have already committed to meeting the recommendations of the global Taskforce on Climate-related Financial Disclosure.
“A common framework on climate risk reporting, together with credible standards and labelling, is a crucial step towards increasing sustainable investment.”
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Notes to Editor
- UK Finance is a new trade association which was formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association
- The banking industry is strongly supportive of the Paris Agreement and of the European Commission’s decision to place the recommendations of the EC High-Level Expert Group at the heart of its Action Plan on Financing Sustainable Growth. The largest global banks have committed to meeting the recommendations of the Financial Stability Board-sponsored Taskforce on Climate-related Financial Disclosure and are involved in further developmental work on these.