London,
01
July
2021
|
13:14
Europe/Amsterdam

Lord Mayor of London: act now on climate change

Speaking today [1 July 2021] at the Financial and Professional Services Address in the heart of the City, Lord Mayor William Russell said there is “worldwide recognition” that the UK must “act now, act globally and act radically” to deal with climate change.

Addressing an audience including the Chancellor of the Exchequer and the Governor of the Bank of England, the Lord Mayor said that the UK financial services industry must help the whole world make the transition to net zero – by greening finance and financing green.

London is becoming one of the world’s leading centres for green finance.

And the Lord Mayor called for global commitments to finance the transition to net zero at COP26, saying “the eyes of the world will be upon us…humanity expects us to do our duty.”

The call comes as the City of London Corporation launched a new report underlining how critical UK financial services will be in meeting this challenge.

Championing sustainable finance: the UK’s global offer reaffirms that UK investors and asset managers have the expertise and aspiration to invest in green, with green investment projects set to grow.

The Lord Mayor said the UK also houses “the full suite of top-notch professional services to support sustainable finance”, with the Global Green Finance Index ranking London as top in the world for quality of professional services and knowledge, “and crucially”, he said, “the UK government and regulators are creating the conditions and setting the right standards for sustainability.”

ENDS

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