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Building a UK Net Zero-aligned Financial Centre: what next?

At COP26, the Chancellor announced important plans to make the UK the world’s first net zero-aligned financial centre. As part of this, large businesses and financial institutions in the UK will, over the next few years, be required to publish new information to help investors assess their exposure to climate-related risks, as well as their plans to reduce emissions. The Aldersgate Group welcomes the progress that has been made to date in developing this new framework. However, following extensive engagement with the financial, business, NGO and academic community, this report calls on the Government, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to take several new measures to facilitate the take-up of new disclosure and reporting requirements and maximise the effectiveness of the UK’s green finance regime.