Anti-greenwash expert group appointed

An independent group of experts will oversee the Government’s delivery of its green taxonomy framework to ensure that investments that can be defined as environmentally sustainable and prevent ‘greenwashing’.

The Green Technical Advisory Group (GTAG) will provide independent, non-binding advice to the Government on developing and implementing a green taxonomy in the UK context, clearly defining which economic activities count as environmentally sustainable.

This includes advising on:
Approach to developing a UK Taxonomy that is usable and practicable for financial and non-financial firms.
UK Taxonomy requirements which drive informed decision-making for investors whilst placing a proportionate burden on business.
Drawing together scientific and subject matter expertise to assist HMG in determining technical screening criteria.
The rationale, implications and recommendations for any deviations from existing international frameworks or taxonomies.
How to deal with and manage any data gaps.
How the UK Taxonomy can best support the UK’s transition to net-zero.
How the UK Taxonomy could be used to align and accelerate the delivery of wider policy, including its Net Zero Strategy, Green Finance Strategy and 25 Year Environment Plan.
The role the UK Taxonomy could play in tracking green financial flows.

The UK Green Taxonomy will clamp down on greenwashing – unsubstantiated or exaggerated claims that an investment is environmentally friendly - and make it easier to understand how a firm is impacting the environment.

GTAG will be chaired by the Green Finance Institute and made up of financial and business stakeholders, taxonomy and data experts, and subject matter experts drawn from academia, NGOs, the Environment Agency and the Committee on Climate Change.

Full appointee list here.

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