UK policy
The PRI engages with UK policymakers, alongside and with the support of signatories, to shape and support the implementation of the UK government's commitment to be a net zero financial centre.
In the beginning of 2023, the UK government published a suite of documents including the 2023 Green Finance Strategy and the Net Zero Growth plan. These reiterated existing commitments on Sustainability Disclosure Requirements and development of the UK Green Taxonomy, as well as new commitments to clarify fiduciary duty and transition plan requirements. The UK policy team works on these issues, alongside stewardship, real economy, climate issues, and building on the findings of A Legal Framework for Impact report, to guide policy recommendations to better integrate sustainability impacts into UK financial legislation.
See below for the PRI’s resources on UK sustainable finance policy work.
Key publications
Latest policy engagements
PRI response to the UK’s Transition Finance Market Review
UK: The PRI welcomes the Transition Finance Market Review as an opportunity to explore how the UK can become a market leader on the transition. The PRI’s response covers the scope of transition finance, links to broader sustainable finance tools, barriers to transition finance, opportunities on transition finance, and global ...
PRI submission to the House of Lords Select Committee on The Modern Slavery Act 2015 Call for Evidence on the 2015 Modern Slavery Act
UK: The PRI welcomes the committee’s interest in the Modern Slavery Act’s impact and effectiveness. We make recommendations to strengthen the implementation of the Act’s provisions (especially Section 54 on transparency), through mandatory disclosures, a stronger monitoring and accountability mechanism, and considering a move towards human rights due diligence requirements.
PRI submission to the Work and Pensions Committee evidence session on fiduciary duty and climate change
UK: The PRI welcomes the committee’s interest in understanding barriers around fiduciary duties and consideration of climate change risks in pension scheme investments. We make recommendations to clarify that the requirement to consider ESG risks includes an obligation to consider pursuing sustainability impact goals and the need for guidance on ...
PRI response to the Financial Conduct Authority’s (FCA) guidance on the anti-greenwashing rule
UK: The PRI supports the scope and intention of the rule, which is part of a package of measures implemented under the Sustainability Disclosure Requirements (SDR) Policy Statement. The guidance could benefit from further elaboration on interoperability, terminology, stewardship, and a monitoring and review approach.
Blogs
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Further resources
Policy reports
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Consultations and letters
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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.”
- The PRI is an investor initiative in partnership with UNEP Finance Initiative and UN Global Compact.
- PRI Association, 25 Camperdown Street, London, E1 8DZ, UK
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