E3G has written to the UK Chancellor Rishi Sunak on behalf of 16 NGOs and universities/think tanks in relation to the UK Green Taxonomy – highlighting the importance of the government prioritising making the UK Green Taxonomy science-based, in order for it to be useful and credible.
The letter welcomes the announcement made by the Chancellor at COP26 of the creation of a world-leading Net Zero Financial Centre in the UK, which was the culmination of a year of positive moves on green financial regulation from the UK government. However, it emphasises that this ambitious package of reforms must be underpinned by a science-based, gold-standard taxonomy if it is to prevent greenwash and support investors in redirecting financial flows towards sustainable activities.
The UK must also avoid a race to the bottom with the EU on weakened standards for sustainability, and should instead use its diplomatic position to encourage a race to the top, maintaining high standards of integrity in line with the 2050 net zero target and interim carbon budgets.
This letter is signed by:
Nick Mabey, CEO, E3G
On behalf of:
Peter Stevenson, Chief Policy Advisor, Compassion in World Farming
Jesse Griffiths, CEO, Finance Innovation Lab
Professor Ralf Toumi, Co-Director, Grantham Institute – Climate Change and Environment at Imperial College London
Chris Venables, Head of Politics, Green Alliance
Oliver Greenfield, Convenor, Green Economy Coalition
Doug Parr, Policy Director, Greenpeace UK
Luke Murphy, Head of Environmental Justice Commission and Associate Director for Energy, Climate, Housing and Infrastructure, Institute for Public Policy Research
Joseph Lewis, Policy Lead, The Institution of Environmental Sciences
Adam Eagle, CEO, The Lifescape Project
Tony Burdon, CEO, Make My Money Matter
Lydia Prieg, Head of Economics, New Economics Foundation
Dr Mary Booth, Director, The Partnership for Policy Integrity
Simon Youel, Head of Policy and Advocacy, Positive Money
Jamie Audsley, Head of Future Nature, Economics Team, RSBP
Catherine Howarth, CEO, Share Action
Karen Ellis, Director of Sustainable Economy, WWF