Achieving net zero is not just an environmental obligation; it’s an economic opportunity that can drive investment and innovation to the UK on an unprecedented scale.
Around the world, communities, industries, and governments are recognising the critical need to reduce greenhouse gas emissions and shift toward a net zero economy.
The Prime Minister has set out his ambitions for the UK to win the race to net zero. He knows as well as I do that therein lies the wealth of our country, the wealth of our businesses and the jobs of the future.
For us here in the City of London, this is a defining moment – a chance to showcase why we are consistently ranked as the leading centre for green finance and continue to be a leading nation on the global transition to a sustainable future.
Later this year we are hosting the fourth Net Zero Delivery Summit. The iconic Guildhall will, for the first time, host some of the world’s leading voices in sustainable finance, including large corporations, financial services firms, and other international leaders. This exciting summit, taking place during London Climate Action Week, presents an opportunity for London and the UK to showcase our work and further cement London’s status as a green finance hub.
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The UK’s commitment to achieving net zero emissions by 2050 has paved the way for significant investments in green finance, and as the global financial capital, the City of London plays a central role in delivering these and our own ambitions. In 2020, the City Corporation adopted a radical Climate Action Strategy, breaking new ground and setting out how we will achieve net zero, build climate resilience, and champion sustainable growth, both in the UK and globally, over the next two decades.
Amidst the backdrop of increasing global uncertainty, one certainty prevails: the persistent threat of climate change. As commitment to climate action fluctuates across different world regions, the UK stands poised to sustain its resolve and foster innovative collaboration with global partners. Together, we can mobilise private finance effectively to achieve the net zero ambitions.
The summit will provide an opportunity to reflect on the progress made, discuss the key challenges ahead, and catalyse action in areas such as transition finance, carbon markets, climate finance, and nature finance.
We will focus on the critical topics for driving the global transition to a net zero economy. The City’s leadership here is crucial.
The UK has an unparalleled opportunity to harness the power of sustainable finance to unlock investment in these sectors. The UK’s robust regulatory frameworks, talent, and financial infrastructure position London as the natural home for this vital work. Moreover, the ability to connect businesses, governments, and the financial community to net zero opportunities is something London does best.
The Net Zero Delivery Summit is not just a meeting of policy makers, or leading voices and minds—it is a moment to drive real change. Now is the time for action, and the City of London is ready to lead the charge.
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