UK Government Launches New Taskforce to Tackle Greenwashing in Finance Sector

UK Government Launches New Taskforce to Tackle Greenwashing in Finance Sector

Image courtesy of edie

Image courtesy of edie

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The UK Government is set to launch a new advisory group tasked with creating a 'green taxonomy' for finance, in a bid to crack down on greenwashing in the investment space. https://bit.ly/3zhgutv @Workiva
Friday, June 11, 2021 - 9:00am

CONTENT: Article

A 2020 Schroders poll of 650 institutional investors with more than $25.9trn in assets under management globally saw respondents citing greenwashing as the biggest challenge to improving – or delivering against – sustainability targets. A more recent survey of 4,600 individual investors by software-as-a-service firm Workiva found that 90% find it hard to trust ‘green’ claims from providers at face value.  

“We want investors and businesses to play their part in greening our economy and transitioning to net-zero, so it’s crucial we have a clear common definition of what green means,” Economic Secretary to the Treasury John Glen said.

“A UK green taxonomy will provide better data on the environmental impact of firms, supporting investors, businesses and consumers to make green financial decisions and accelerating the transition to net-zero.”

Read the full article here.