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Green Finance Inquiry (UK)

January 16th, 2018

As readers may already know the government has said it is committed to supporting the hugely diverse (and essential) area of  ‘Green Finance’.

Part of the process of developing this area involves calling for input in the form of a government inquiry.

Written responses were requested for submission by  3 January – they can now be found here.

Those who know me will not be surprised to learn the main recommendations in the SRI Services – which (in brief) were:

1.  Retail investors represent an opportunity to support ‘green finance’ and improve sustainability.  Far more people are interested in this are than currently invest in it.  Connecting more effectively with this group could bring a wide range of benefits.

2.  The FCA should be tasked with being supporting this area.  A cultural shift is needed.  This would involve embedding sustainability in the FCA’s core principles.  (In the sense of ‘environmental sustainability’- not just financial sustainability as the FCA core principles currently state.)

This would require revamping the relevant advice/KYC/fact finding areas to ensure that understanding people’s views on sustainably is not overlooked. (ie All investors should be able to reflect their views on social and environmental issues when deciding where to invest.)

This would help bring the FCA into line with other areas of legislation and mean that retail investors were not at a disadvantage compared to institutional and other investors.

3.  The government should set up a committee to make this happen (which SRI Services would be happy to support.)

4.   All government policies should be viewed through a ‘green lens’ to ensure ‘sustainability pays’ (this is with reference to sections  on policy incentives and disincentives which I believe have sent mixed signals to investors over many years.)

 

Full url:

http://www.parliament.uk/business/committees/committees-a-z/commons-select/environmental-audit-committee/inquiries/parliament-2017/green-finance-17-19/publications/

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