About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

UK Government Sets Development of Green Taxonomy in Motion

Subscribe to our newsletter

The UK government announced today a Green Technical Advisory Group (GTAG), which will oversee delivery of a green taxonomy that will set the bar for investments that can be defined as environmentally sustainable and tackle greenwashing. The post-Brexit UK taxonomy is likely to be similar, but not identical, to the EU taxonomy set out in Taxonomy Regulation that came into force in the EU on 12 July 2020 and set out requirements an economic activity must meet to qualify as environmentally sustainable.

GTAG will be chaired by the Green Finance Institute and made up of financial and business stakeholders, taxonomy and data experts, and subject matter experts drawn from academia, NGOs, the Environment Agency and the Committee on Climate Change. It will hold its first meeting this month.

The government will also establish an Energy Working Group as part of the GTAG to provide advice on key technologies covering hydrogen, carbon capture, use and storage, and how to address nuclear power in the taxonomy – a key element of the UK’s net zero plans. Other expert groups may be established where required as work progresses.

UK energy minister Anne-Marie Trevelyan says: “Transforming our financial system for a greener future is vital so we can protect the planet, reach net zero and grow our economy. Establishing a Green Technical Advisory Group and Energy Working Group are both crucial steps forward in developing our green UK taxonomy. This will help the financial sector invest in the projects, technologies, and services of the future, strengthening the UK’s position as global leader in green finance and tackling climate change.”

Chancellor Rishi Sunak initially said the UK would implement a green taxonomy in November 2020, as part of wider plans to position the UK at the forefront of green finance, including issuing the UK’s first ever sovereign green bond later this year.

The launch of GTAG comes shortly after the UK was instrumental in getting G7 countries to move towards making climate disclosures – in line with recommendations from the Task Force on Climate Related Financial Disclosures (TCFD) – mandatory. The agreement was secured at last weekend’s meeting of G7 finance ministers chaired by the chancellor.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Mastering Data Lineage for Risk, Compliance, and AI Governance

Financial institutions are under increasing pressure to ensure data transparency, regulatory compliance, and AI governance. Yet many struggle with fragmented data landscapes, poor lineage tracking and compliance gaps. This webinar will explore how enterprise-grade data lineage can help capital markets participants ensure regulatory compliance with obligations such as BCBS 239, CCAR, IFRS 9, SEC requirements...

BLOG

Six Providers of SFDR Reporting Solutions

Europe’s ESG regulatory space is dominated by the Sustainable Finance Disclosure Regulation, which requires listed companies in the bloc to declare the sustainability credentials of the funds they manufacture and the assets in which invest. Its intention is to give investors and advisers a clearer understanding of how sustainable investments are. Compliance requires the reporting...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...