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Mobilising Green Investment: The UK Government’s 2023 Green Finance Strategy

The UK government sees huge opportunities for the UK’s financial and professional services industry in the global transition to a “resilient, nature positive and net-zero economy”, and it is against this backdrop that on 30th March 2023, the government’s latest Green Finance Strategy has been published. Read our detailed client note on key commitments set out in the Strategy here.

The Strategy is an update to the UK’s 2019 Green Finance Strategy and intends to place the UK at the forefront of the growing global market for green finance.

In this Strategy, the government sets out the measures it plans to take to achieve its green finance objectives. Many are not new announcements – but do provide a welcome update on the government’s plans.

Next Steps

The government has provided a timetable of its commitments for the coming year:



In 2023

  • Publish a series of net zero investment roadmaps and a nature investment roadmap.
  • Consult on the specific steps and interventions needed to mobilise additional finance through high-integrity voluntary markets and protect against the risk of greenwashing.
  • Work with UK financial institutions to start a series of Government-convened roundtables, to further tackle deforestation-linked finance.
  • Host a series of roundtables to engage stakeholders on how it can continue to clarify fiduciary duty.
  • Consult on the UK Green Taxonomy

Q2 2023

  • Bring into force amended regulations to implement pensions reforms, subject to Parliamentary approval, as early as April 2023.
  • First meeting of Net Zero Business and Investment Group.

Q3 2023

  • Launch a formal assessment mechanism as soon as the first two ISSB Sustainability Disclosure Standards are published (expected in June 2023).
  • Set out further detail on the SDR implementation timeline to reflect the rapid development of international standards.
  • Engage stakeholders on an update to the Environmental Reporting Guidelines, which provide voluntary environmental reporting guidance for UK organisations.
  • Launch a call for evidence on scope 3 emissions reporting.
  • Publish the first impact report detailing the environmental impacts and any social co-benefits resulting from the expenditures of the Green Financing Programme, in September 2023.
  • Host the Global Investment Summit 2023.

Q4 2023

  • Provide further information and clarity for trustees on their fiduciary duty in the context of the net zero transition by reviewing Stewardship Guidance (late 2023).
  • Consult on the introduction of requirements for the UK’s largest companies to disclose their transition plan if they have them. This consultation will take place once the TPT has completed its work in Autumn/Winter 2023.
  • Explore how best the final TNFD framework (expected September 2023) should be incorporated into UK policy and legislative architecture, in line with Target 15 of the Global Biodiversity Framework.
  • The FRC – working with the FCA, government and The Pensions Regulator – will review the regulatory framework for effective stewardship, including the operation of the Stewardship Code.

In 2024

  • Set out adaptation finance deliverables and action plan

Read our client note on the 2023 UK Green Finance Strategy for more details. 

Other UK "Green Day" publications

  • You can find our client note on UK "Green Day" (and setting out the key takeaways on net zero) here.
  • You can find our client note on the HM Treasury consultation setting out proposals on the scope for a potential regulatory regime for ESG ratings providers here
  • You can find our note on the UK Governments plans for the future of energy in the UK (as set out in its publication "Powering up Britain" and other key documents) here.


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