UK Green Finance Strategy - what to expect in 2023
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In what was dubbed ‘Energy Security Day’, on 30th March 2023, the UK Government released an extensive suite of publications outlining plans to support the country’s legally binding net-zero target by 2050. This included the updated Green Finance Strategy (GFS), which is designed to better position the UK’s finance sector to seize the opportunity from the transition to a net-zero, nature-positive and resilient economy.
The UK Government is ambitious about taking international leadership in seizing the economic opportunities of the transition. This is reflected in the myriad of policy measures and themes which have been announced or reiterated in the GFS.
The UK regulatory landscape is rapidly evolving, and is poised to continue having a role in shaping global regulatory developments. It should be closely watched by all market participants who are concerned about aligning their activities with global efforts to tackle the climate and nature crises.
This article reviews the key commitments in the GFS that shed light on what to expect in 2023 and beyond, with reference to the broader suite of Energy Security Day publications and other significant global regulatory developments.