A Green Finance Taskforce has been created by the UK Government to increase the money spent on decarbonisation.
Climate Minister Claire Perry spoke at Climate Week in New York, where she outlined the details of the new taskforce.
The minister stated that its aim is to increase funding for decarbonisation, and would be led by a group of financial experts.
This will coincide with a view to creating the world’s first standards based around green financial management. A task shared with the British Standards Institute.
Since 1990, the UK’s carbon emissions have reduced by around 42%, while GDP has risen by 67%.
Figures which the Government believes paves the way for future investment and decarbonisation, while maintaining a rising GDP.
It is claimed that billions of pounds will be invested in the UK as jobs and new technological opportunities will increase.
The Climate Minister stated: “The transition to a low carbon economy is a multi-billion pound investment opportunity and a key part of this government’s Industrial Strategy.”
“Developing standards to promote responsible investment in sustainable projects and establishing the Green Finance Taskforce will help ensure businesses across the UK take full advantage of it.”
Stephen Barclay, Economic Secretary to the Treasury stated: “Financial services are a British success story and the sector has the power to drive green and sustainable development.”
“It is a priority of mine that people are able to access financial products that support their values, whether that be sharia-compliant loans or green mortgages that have a positive environmental impact.”
“This taskforce will keep the UK at the forefront of green finance and help deliver choice for consumers.