The UK Government has announced £10m of funding for a new "UK Centre for Greening Finance and Investment". The new research hub will be based in Leeds and London. It is being established in partnership with various UK institutions, including the University of Oxford.
One of the key goals of the project is to provide investors with better "environmental data and analytics". The hope is that financial institutions will be able to use this new information to identify and manage risks, as well as to support the UK's agenda to combat climate change.
As we noted previously, the UK Government is continuing to try and boost its green credentials before hosting the UN climate talks in Glasgow later this year. Information based disclosures has been a key trend in recent ESG legislation, and the new centre is a sign of the Government's willingness to invest in this area.
The new UK Centre for Greening Finance and Investment is part of the national effort to establish the City of London as a green finance centre, leveraging on Britain’s status as the host country for the UN climate talks.