From commitment to action: tracking UK financial services’ progress on net zero

This third edition of “From commitment to action: tracking UK financial services’ progress on net zero”, provides insights on how financial services firms in the UK and other major global centres are progressing on the road to net zero. 

Key findings: 

• The number of financial services firms committed to or adopting science-based targets is rising, albeit from a low base, with the UK leading globally.  
• The incorporation of climate considerations in decision-making processes among financial services firms is steadily improving – with the UK ahead of other major European financial centres.   
• Total private sector green bond issuance across our major global financial centres has seen the highest levels over the past five years.   

While progress is positive, more action is needed. Widening adoption of science-based targets and embedding climate measures at scale remain critical as frameworks and standards continue to evolve. And while growing green capital flows are essential, achieving net zero also depends on accelerating transition finance – vital for decarbonising harder-to-abate sectors and building a truly sustainable global economy.