The City of London Corporation’s Policy Chairman, Chris Hayward, will today [24 May] highlight the UK’s key role in financing a just global transition to net zero.

Speaking to an audience of global government representatives and business leaders at the Net Zero Delivery Summit – hosted by the City of London Corporation in association with the COP27 Egyptian Presidency – he will call for greater “transparency, comparability, and credibility” in green finance.

An extract from the Policy Chairman’s speech is found below. Please check against delivery.

“Sustainable finance is one of the best tools available to policymakers in the urgent race to meet climate targets.

“But markets – from London to Los Angeles, Singapore to San Francisco – will need better transparency, comparability, and credibility in the sustainable finance agenda.

“We need to reduce frictions. That means strengthening policy with an effective and coherent sustainable finance framework.

“We need to nurture innovation. More creativity in the market will create better products for green finance.

“We need to attract capital and customers. With better products for the market, we then need the clients to ensure a greater uptake.

“The City Corporation is supporting a globally just transition by working on these three areas at home, with the belief that they will help the larger net zero movement abroad.

“That means positioning the UK as a one-stop shop, a trusted partner for green capital and expertise, helping governments and businesses meet their sustainability goals.”

Notes to editors:

About the City of London Corporation

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

About the Net Zero Delivery Summit

The Net Zero Delivery Summit (NZDS) 2023 is co-hosted by the City of London Corporation, in association with the COP27 Egyptian Presidency, to mark the halfway point between COP27 in Egypt and COP28 in the United Arab Emirates. The summit focuses on how tackling climate change and its effects on societies can be delivered in a fair and inclusive way, particularly in developing countries.

About Chris Hayward

Throughout his career Chris Hayward has worked in the construction, aviation, infrastructure and global events management sectors. He is currently a Director at leading communications agency JBP, a consultant at Keltbray Limited, and Director of Hayward Properties Limited. He is a former Deputy Leader of Hertfordshire and Dorset County Councils. As Policy Chairman, he effectively operates as the political Leader of the City Corporation.