UK to Implement Integrated Sustainability Disclosures
Published alongside the Chancellor’s Mansion House speech, this document sets out the government’s vision for the future of the financial services sector.
A new chapter for financial services’ sets out the government’s vision for an open, green and technologically advanced financial services sector that is globally competitive and acts in the interests of communities and citizens, creating jobs, supporting businesses, and powering growth across all of the UK.
New UK Integrated Sustainability Disclosures Requirements are a hugely positive step. Requiring firms to report on the positive and negative impacts they are having on the climate and environment is an essential complement to risk focused disclosures. https://t.co/mO6hoiyKuE
— Ben Caldecott (@bencaldecott) July 1, 2021
The government’s vision is shaped around four key themes:
- an open and global financial hub
- a sector at the forefront of technology and innovation
- a world-leader in green finance
- a competitive marketplace promoting effective use of capital
This builds on the vision originally announced by the Chancellor in his statement to the House of Commons on the future of financial services in November 2020.
Source: UK Treasury
These potential changes, along with the some of the other proposals raised in the paper, run counter to the EU's desire to increase lit-market trading & could help the UK eventually win back some trading in EU shares
— Anish Puaar (@AnishRBLT) July 1, 2021
Chancellor @RishiSunak 's mansion house speech sets out the kind of agenda for the City that I wrote about here: new growth areas like sustainable finance and an increasing confidence about tailoring regulation to maximise new opportunities for the UKhttps://t.co/32ZBAOnOkQ
— Rupert Harrison (@rbrharrison) July 1, 2021
Technology centre stage in Chancellor's vision for future of UK financial services today – together with the role of UK in Net Zero finance, providing global expertise and leadership.#GreenFinance #FinTech @hmtreasury https://t.co/wRqM19GsCX
— Adam Jackson (@Adam_E_Jackson) July 1, 2021
With Ankit Mittal, Business Change Manager, Global Trading, Schroders
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