City Corporation looks beyond Brexit for UK and EU cooperation in financial services
City of London Corporation Policy Chair Catherine McGuinness will be examining the long-term future of the UK-EU relationship in financial services when she speaks in Brussels on Tuesday (15th October).
Ms McGuinness will be joined at the City Corporation’s annual Brussels reception by Dutch MEP Paul Tang – S&D lead negotiator for the European Parliament on sustainable investments and sustainability impacts - and will focus on the importance of cooperation in areas of mutual benefit, especially green finance.
On Wednesday morning she will then appear at a breakfast event alongside Chief Executive Officer of the UK Green Finance Institute, Rhian-Mari Thomas.
The launch of the Green Finance Institute in July and the UK’s hosting of COP 26 in 2020 underscore the quality of London’s green finance offer, recently ranked once again as the world’s best by Z/Yen.
She will also be joined by Managing Director of the City Corporation’s Brussels Office Nick Collier for a meeting with third country ambassadors (Japan, Australia, USA, Switzerland, Singapore and Canada).
This will be a key opportunity to drive forward multilateral regulatory cooperation, especially in emerging areas such as green finance and fintech, as well as ways in which the UK can adjust its trading relationship with the EU post-Brexit.
Ursula von der Leyen, president-elect of the European Commission, has already called on a European Green Deal to become a ‘hallmark’ of the new administration.
City of London Corporation Policy Chair Catherine McGuinness said:
“We have been very clear about the need for the UK and EU to avoid a no-deal Brexit, because of the potential harm to businesses and consumers on both sides of the Channel.
“But we cannot focus only on Brexit. With the unprecedented challenge of climate change in mind, and whatever the outcome of Brexit negotiations, we need to forge a long-term strategy for working together to tackle common challenges.
“My visit to Brussels this week is therefore a key opportunity to show how UK’s expertise in areas such as asset management and green finance can bring mutual benefits to projects such as the EU’s capital markets union.
“The UK may be leaving the European Union, but our commitment to the multilateral trading framework and to working with like-minded partners remains as strong as ever.”
Notes to editors
The City of London 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. www.cityoflondon.gov.uk
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Joe Dibben, Media Officer
City of London Corporation
0207 332 1906