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ARTICLE · 21 NOVEMBER 2024

UK Doubles-Down On Sustainable Finance

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The UK is prioritizing sustainable finance in its Financial Services Growth and Competitiveness Strategy, including consultations on a UK Green Taxonomy, ESG ratings regulation, and sustainability reporting standards. Asset managers must prepare for evolving regulatory and market demands.

United KingdomFinance and Banking
John Verwey
John Verwey
Michael Singh
Michael Singh
Rachel E. Lowe
Rachel E. Lowe
Sulaiman Malik
Sulaiman Malik
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On 14 November 2024, Rachel Reeves set out in her first Mansion House Speech that "sustainable finance" was to be one of the UK's five priorities in the government's Financial Services Growth and Competitiveness Strategy (the "Strategy").

On the same day, representing HM Treasury at COP29, Growth Minister Lord Spencer Livermore laid out the UK's commitment to making the UK the sustainable finance capital of the world on the 'Finance, Investment, and Trade Day' in Baku, Azerbaijan.

A Call for Evidence on the government's Strategy, including on this sustainable finance commitment, has been published with a short deadline of 12 December 2024, with the final Strategy to be published in Spring 2025. HM Treasury has also sent remit letters to the Financial Policy Committee and others (including the FCA) confirming that sustainable finance as an area of the UK government's policy in financial services is one that the Financial Policy Committee, the FCA and other

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