UKSIF to Government: Publish green finance plan

The UK Sustainable Investment and Finance Association (UKSIF) has called on the Government not to delay the Green Finance Strategy, which was due to be published in Spring 2019 and to use it to set out a plan to achieve net zero.

Applauding the Committee on Climate Change’s report recommending the UK sets a target for net-zero greenhouse gas emissions by 2050, UKSIF added that any strategy should also set out measures to improve the way the financial system manages climate-related financial risks, better protecting long-term investors such as pension funds.

At the Ownership Day meeting at the London Stock Exchange (LSE), David Harris, the head of sustainable investment at FTSE Russell, noted that the recent XR protests at the LSE involving the liberal use of superglue, demonstrated that the public was thinking “the financial sector is not doing enough for climate change” and the LSE was the “figurehead” that drew this discontent into the wider public eye.

Simon Howard, chief executive at UKSIF, added: “There are signs that society is shifting and that there is real momentum.” He also expressed the ability for finance to work alongside the green movement, pointing to the need for infrastructure such as electrification as both a clean technology and an investment vehicle. “There are great investment opportunities out there and investors have a role,” he said.

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