The UK has confirmed that it has attracted foreign investment valuing almost £10 billion to support green regeneration, Hartey Wealth Management reports.
The investment was announced at a recent investment summit in London, which was attended by 200 leading business executives and financiers.
Hartey Wealth Management’s Managing Director, Tristan Hartey, commented: “Consumers who are currently out there looking for green investment advice in Chester, London and other major UK cities will find wealth managers exceptionally helpful. Able to construct portfolios using ethical assets and responsible investments, wealth managers are a source of advice and assistance on greener opportunities to earn from.
“This recent summit is great news, as it marks the UK’s largest push since Brexit to encourage global investment while seeking suitable partners to accelerate Britain’s progress in the current race to excel in green technology.”
Indeed, as part of the summit, leading international investors were invited to Windsor Castle to enjoy an audience with Her Majesty the Queen.
Ahead of the summit, Minister of State for Investment, The Lord Grimstone of Boscobel, said that the UK would be “rolling out the green carpet for investors” in an effort to drive forward the nation’s decarbonisation agenda.
The UK government has announced a string of investment deals with a value of around £9.7 billion, including £6 billion for offshore wind farms from Spanish utility company Iberdrola, and net-zero carbon warehouses and new decarbonisation technology for the waste sector.
These investments will be counted alongside the £5.85 billion already pledged since the Prime Minister announced his green investment plan.
In the backdrop of the government’s investment announcement, Chancellor Rishi Sunak has set out a roadmap of new standards for environmental reporting to help support the UK’s transition to a greener financial system.
The new Sustainability Disclosure Requirements [SDR] will make it mandatory for businesses to disclose their environmental impact, meaning both firms and consumers will have a better understanding of whether their investments are aligned with the UK’s drive toward net-zero.
The decision comes after it arose that 70 per cent of the British public wanted their money to be invested in building a positive future for humanity and the planet. The move is also a means of ministerial crackdown on greenwashing activities, where investors and consumers are misled over how green a product really is because of the lack of common definitions around environmental sustainability.
In what is sure to be a game changer for the finance industry, the Chancellor will also urge the investment community to get behind the new regulations to help the UK establish itself as the world leader in green investment.
SDR will apply to pension schemes, investment products and asset managers and owners, and provide investors with all the key information required to make informed decisions about where their money goes.
Chancellor Rishi Sunak said: “We are already a world leader in green finance, and this roadmap will give us the opportunity to set new global standards for sustainability that will boost the economy, protect the planet and support our net zero goals.
“We want sustainability to be a key component of investment decisions, and our plans will arm investors with the right information to make more environmentally-led decisions.”
The UK's drive in green finance and sustainable investing also comes at a key time, with the COP26 climate summit currently underway in Glasgow.
Photo by Towfiqu barbhuiya on Unsplash
