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UK policy inertia jeopardizes billions in environment capital, study shows

The British government is driving billions of pounds of financial investment away from the UK by failing to offer clear policies to support the transition to a. lowcarbon economy, a study of 100 monetary services companies. revealed on Wednesday.

Britain has actually positioned itself as a world leader in. sustainable finance however its management is under hazard from a. absence of clear policymaker support, the UK Sustainable Financial Investment. and Finance Association (UKSIF) said.

Two-thirds of the companies, which represent in all around 1. trillion pounds ($ 1.26 trillion) in yearly turnover and 200. billion pounds in green investments, stated they have already. moved or strategy to move financial investments out of the nation to a market. that is more encouraging of their sustainability objectives.

James Alexander, CEO at UKSIF, said Britain was at a. essential inflection point that could see it gain from. billions of pounds of financial investment, or drive away much needed. personal capital in the UK.

Delays in carrying out the UK's green taxonomy - a list of. climate friendly activities - and slow progress on adopting. worldwide standards for corporate environment reporting from the. International Sustainability Standards Board were examples of. where investors wished to see faster action, UKSIF stated.

Alexander required the introduction of obligatory business. transition strategies, higher clarify on the fiduciary task of. pension plans as it relates to climate financing and a push to. embed biodiversity into the regulative framework.

Actions like these, UKSIF stated, might open some 100. billion pounds of financial investment in the nationwide economy, with 95%. of participants to the survey saying they would increase. investment if favourable government policies were executed.