UK policy

The UK government has set out its commitment to be the world’s first net zero financial centre. The PRI UK policy team engages with UK policymakers, alongside and with the support of signatories, to ensure this high ambition is maintained.

In 2022 the UK will continue to push forward with a package of consultations and reforms under the Sustainable Disclosures Requirements (SDR) and the development of the UK Green Taxonomy - a tool to help investors understand whether an economic activity is environmentally sustainable, and to navigate the transition to a low-carbon economy. The UK policy team works on both of these priorities, as well as stewardship, real economy climate issue and building on the findings of the flagship A Legal Framework for Impact report, to guide policy recommendations to better integrate sustainability impacts into UK financial legislation. See further below for PRI’s resources on UK sustainable finance policy work.

Key publications

Latest consultations

PRI response to UK Transition Plans Taskforce (TPT) Consultation Survey

The PRI welcomes the work of the Transition Plan Taskforce (TPT) to drive robust, credible, and interoperable transition plans and disclosure frameworks from finance and real economy actors. The PRI agrees with the TPT’s approach in building and aligning to the International Sustainability Standards Board (ISSB) Climate Exposure Draft, the Task Force on Climate-Related Financial Disclosures (TCFD) framework, and recommendations from the High-Level Expert Group (UN HLEG) on the Net Zero Commitments.

See response

PRI response to the Financial Conduct Authority's consultation on Sustainability Disclosure Requirements (SDR) and investment labels.

The PRI welcomes the FCA's package of measures aimed at bringing regulatory clarity on greenwashing and increasing trust in sustainable investing. Our recommendations centre around bringing consistent and usability for investors and enabling regulators to assess sustainability claims.

See response

PRI response to the Department for Levelling Up, Housing and Communities (DLUHC) consultation on Local Government Pension Scheme (LGPS)

In our response, the PRI welcomes the proposal from DLUHC to require LGPS schemes to assess, manage and disclose climate-related risks in line with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). In particular we welcome proposals to align new requirements for LGPS AAs with existing requirements for occupational pension schemes, as set out by the DWP earlier this year.

See response

Call for evidence

PRI submission to the FCA's discussion paper on finance for positive sustainable change

The PRI supports regulatory progress to remove barriers to investors contributing to positive sustainability outcomes, as well as the FCA's work in enabling an economy-wide transition to net zero. Our recommendations call for greater clarity on the legal responsibility to address sustainability outcomes, updated guidance on skills and knowledge on climate and sustainability risks, and decision-useful reporting.

See response

PRI response to the Environmental Audit Committee's (EAC) enquiry into the financial sector and the UK’s net zero transition

Creating a net zero financial centre in the UK requires foundational changes in public policy, and the PRI offers recommendations rooted in ensuring that financial flows are consistent with zero carbon, climate resilient development pathways that work for people and the planet.

See response

PRI response to a call for evidence by BEIS on the government's approach to delivering its net zero target.

The PRI welcomes the opportunity to respond and makes recommendations showcasing the ability of net zero targets to deliver maximum economic growth and investment, and to support UK energy security and affordability.

See response

Green Finance Strategy

The PRI responded to a call for evidence by HM Government to support the update to the Green Finance Strategy. The call for evidence seeks views around four objectives; capturing the opportunity of green finance; mobilising finance for the UK’s energy security, climate and environmental objectives; greening the financial system; and leading internationally.

See response

Transition Plan Taskforce

The PRI welcomes the opportunity to respond to the Transition Plan Taskforce’s call for evidence on a Sector-Neutral Framework for private sector transition plans. This call for evidence seeks views on the draft principles used to guide a credible transition plan, the elements that a Sector-Neutral Framework should include, and overall aims to drive transition plans by developing clear expectations and creating a standard.

See response

Further resources

  • Policy-briefings

    Policy reports

    Search our policy briefings

  • Key policy developments of 2020

    Consultations and letters

    Search our policy consultations and letters

  • LFI_banner

    A Legal Framework for Impact

    It is crucial that assessing and accounting for sustainability impact becomes a core part of investment activity. That’s why PRI, UNEP FI and The Generation Foundation are leading our work programme “A Legal Framework for Impact.”