A new group, the Green Technical Advisory Group (GTAG), has been established to provide independent, non-binding advice on developing and implementing a green taxonomy in the United Kingdom (UK). GTAG will oversee the delivery of a common framework for environmentally sustainable investments.
By clearly defining environmentally sustainable economic activities, the UK Green Taxonomy will support the Government's efforts to improve the environment, accelerate the transition to net-zero and create green jobs. The UK Green Taxonomy will also help to clamp down on greenwashing and make it easier to understand how a firm impacts the environment.
With hundreds of new sustainable investment funds coming to market each year and sales to UK retail investors tripling from 2019 to 2020, the UK Green Taxonomy will help consumers and investors to make more informed decisions and support businesses in their efforts to transition to net zero.
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