Monday 9 November 2020

Reacting to the Chancellor’s announcement on the future of the UK’s financial services, Richard Burge, Chief Executive of London Chamber of Commerce and Industry, said:

“The Chancellor has set out a number of positive, bold steps today. The devil will be in the detail, but at first glance, these measures set us on the right path as the UK enters a critical moment for its position in the global market.

“The announcement on climate-related disclosures is particularly welcome. Businesses should not underestimate the work needed to make sure disclosures are validated and verifiable.

“The Sovereign Green Bond is an opportunity worth seizing for moving investor demand in the right direction.

“Implementing a green taxonomy is another welcome move. But in view of Britain’s key role in driving the green taxonomy approach in Europe, we need to carefully consider whether it is right to reinvent the wheel. London businesses will also be looking for clarity on equivalence with the EU’s emerging framework.”