Tag: Green Finance

Accelerating growth for global green finance

Stuart Mitchell

In the first report of its kind taking stock of green finance over the last decade, TheCityUK, with the support of BNP Paribas, has charted the growth of global green finance as the market has multiplied over a hundredfold from $5.2bn in 2012 to $540.6bn in 2021. The report ‘Green finance: a quantitative assessment of market trends’ used data provided by Refinitiv, an LSEG business, and found that although green finance remains a relatively small part of global financial markets, there has been consistent growth with signs of acceleration in…

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FCA announces future work on climate change and green finance

Stuart Mitchell

The FCA has published a feedback statement setting out its proposals to improve climate change disclosures by issuers and information to consumers on green financial products and services. The Statement identifies a number of priorities, which will provide a foundation for the FCA’s future work on climate change and green finance. These include issuers’ climate change disclosures, regulated firms’ integration of climate change risk and opportunities into their decision-making and consumers’ access to green financial products and services. Andrew Bailey, Chief Executive of the FCA said: ‘We have an important…

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UK MPs seek answers from pension funds on climate risk

Stuart Mitchell

The Chair of the cross-party Environmental Audit Committee has written to the top 25 pension funds in the UK to ask how they manage the risks that climate change poses to pension savings. The letters form part of the Committee’s enquiry into Green Finance. It follows an admission from the Department for Work and Pensions – in a letter also published – that there is widespread misunderstanding amongst trustees on the scope of their fiduciary duty in relation to environmental risks. Mary Creagh MP, Chair of the Environmental Audit Committee…

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