UK energy department BEIS is to publish in spring 2019 a Green Finance Strategy setting out the government’s long-term plans to boost the take-up of green finance.
The strategy will respond to the government’s independent Green Finance Taskforce’s recommendations published in March and set out its objectives and how it will achieve them.
“We want to build on our huge potential in this area as the world’s largest net exporter of financial services in 2017,” said a BEIS spokesman.
“We will continue to work with the financial sector to develop green finance and have asked the Green Finance Advisory Group to act as government’s advisory board, ensuring we continue our fruitful partnership with the private sector.”
The Green Finance Strategy announcement is one of a number of measures unveiled as part of Green Finance Day, a key element of the government’s Green GB & NI Week.
Other initiatives include a £20m investment matched by the private sector in a venture capital fund to support UK clean technology companies.
BEIS has also announced two new standards for green finance, with the British Standards Institution developing two new Publicly Available Specifications in Sustainable Finance.
The UK, meanwhile, will chair the new International Standards Organisation Technical Committee on Sustainable Finance, which will develop global standards in sustainable finance.
The government is also exploring how best it could produce meaningful data setting out which infrastructure projects can be considered green.