The United Kingdom must maintain its leadership in sustainable finance to unlock economic growth opportunities and maintain progress on net zero, Corporation Policy Chairman Chris Hayward will urge in a keynote speech today (Monday 23 June).
Hayward will speak at the Net Zero Delivery Summit 2025, a flagship London Climate Action Week event, hosted by the Corporation in collaboration with Aviva, EY, Intercontinental Exchange (ICE), the Sustainable Markets Initiative and the International Energy Agency (IEA).
The UK’s net zero economy grew 10.1% between 2023-24 and now generates £83.1 billion – reinforcing its growing role as a key driver of UK growth
Set between the last COP and the forthcoming COP30, the summit will convene leaders from the financial services sector, energy industry, and real economy to discuss the critical role of private finance in achieving net zero goals. Topics to be considered include carbon markets, transition finance, and nature finance. Alongside the Policy Chairman, will be keynote speeches and panel discussions from the:
- Rt Hon. The Lord Mayor, Alastair King;
- COP30 President-Designate Ambassador André Corrêa do Lago;
- The Rt Hon Lord Alok Sharma and Ravi Menon, Singapore’s Ambassador for Climate Action;
- Tim Gould, Chief Energy Economist, International Energy Agency;
- Sir Andrew Steer, former CEO of the Bezos Earth Fund
Ahead of the Summit, the City Corporation’s latest report, From Commitment to Action, examines financial services firms’ net zero progress, revealing the challenges and opportunities that lie ahead. The report found:
- The UK leads globally in financial services firms adopting science-based climate targets.
- Private-sector green bond issuance has hit a five-year high of $113 billion (a 27% increase on the previous year)
- The incorporation of climate considerations in decision-making processes among financial services firms is steadily improving – with the UK ahead of other major European financial centres.
The Policy Chairman of the Corporation, Chris Hayward, said:
“Climate change is both a global challenge and a strategic opportunity. The global transition to net zero presents the UK with a once-in-a-lifetime opportunity to drive economic growth, and ensure we remain a global hub for green investment, whilst guarding against the devastating effects of climate change and nature loss.
“As the global economy comes to recognise the risks and realities of this crisis, sustainable finance has emerged as the standout opportunity. Now is the time for Government and industry to deepen their partnership to drive initiatives that increase the flow of capital to accelerate decarbonisation and boost high-skilled jobs and investment.”
Chair of the Transition Finance Council, the Rt Hon Lord Alok Sharma, KCMG, said:
“Transition finance is all about unlocking economic opportunity and growth, as well as helping to cut emissions. A credible, trusted transition finance market in the UK will help raise the vital funds needed internationally to decarbonise industries, create new green jobs, and help businesses future-proof their operations. Getting this right not only supports progress on our climate goals, it drives growth, enhances competitiveness and secures long-term prosperity for the UK.”
Jennifer Jordan-Saifi, Chief Executive Officer, Sustainable Markets Initiative, said:
“The transition to a sustainable future is ‘The Growth Story of Our Time’, poised to unlock trillions in sustainable growth across every industry and nation. Yet, it demands bold vision and unwavering leadership from world leaders and CEOs to accelerate progress and deliver a thriving, resilient global economy. We simply need the confidence and moral courage to act.”
Claudine Blamey, Chief Sustainability Officer, Aviva, said:
“It’s essential that businesses get ready to move to a low-carbon and nature-positive economy. Finance is key to unlocking opportunities and developing long-term resilience and Aviva will continue to invest and insure to support the transition to a sustainable net-zero future.”
Gill Lofts, Global Sustainable Finance Leader, EY, said:
“Climate change poses challenges indiscriminately on a global scale, and mut stay at the top of the agenda. Financial services firms are committed to understanding how best to navigate- and then drive change- to a more sustainable world.
“The sustainability focus is shifting, however, and financial firms are increasingly looking at how to manage risk, business resilience and revenue generation, and conversations across industry and government to help drive tangible action are absolutely essential”.
Gordon Bennett, Global Head of Environmental Markets, Intercontinental Exchange, said:
“For over two decades, the UK has established itself as a global centre for carbon price risk management. ICE is honoured to collaborate with the to raise awareness of the role and importance which markets play in pricing emissions, allowing governments and investors to identify the most effective investment opportunities to meet decarbonization goals.”
Notes to editors
To read the full report, From Commitment to Action, visit: https://www.theglobalcity.uk/insights/from-commitment-to-action-2025
The Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK.
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