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ARTICLE · 21 NOVEMBER 2024

The UK's Green Taxonomy

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HM Treasury's consultation on a UK Green Taxonomy seeks feedback on its design and use, aiming to standardize definitions of green economic activities. The initiative supports transition finance, combats greenwashing, and aligns with global taxonomies while addressing interoperability, governance, and environmental objectives.

United KingdomEnvironment
Rachel Richardson
Rachel Richardson
Emily Batchelor
Emily Batchelor

On 14 November 2024, HM Treasury issued a consultation on a UK Green Taxonomy following the Green Technical Advisory Group (GTAG)'s work in developing a UK Green Taxonomy for financial and non-financial firms.

The GTAG is an expert group, chaired by the Green Finance Institute. The role of the GTAG is to provide non-binding advice to the UK Government on market, regulatory and scientific considerations for developing and implementing a UK Green Taxonomy to facilitate more informed investment decisions.

What is a green taxonomy?

The consultation paper defines a taxonomy as "a classification tool which provides its users with a common framework to define which economic activities support climate, environmental or wider sustainability objectives".

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