The Transition Finance Council

The Transition Finance Council was co-launched by the City of London Corporation and HM Government. The purpose of the Council is to drive forward the roadmap and recommendations set out in the Transition Finance Market Review and to establish the UK as the global hub for raising and deploying transition finance. The Council’s aim is to leverage the UK’s existing strengths to become the best place in the world to credibly raise transition capital, invest, and obtain financial and professional services in support of UK and global net zero ambitions.  

The Council includes representation from the financial and professional services sectors, real economy, government, regulators, standard setters, and civil society.  

The Council is led by Chair Lord Alok Sharma KCMG, and Deputy Chair Irem Yerdelen, Lead Member for Sustainable Finance at the City Corporation. 

Latest publications

Transition Finance Council: Mid-year Progress Report

This report provides an overview of the Council’s progress, assesses UK stakeholder progress against the Transition Finance Market Review’s roadmap, and looks at the global outlook for transition finance.

Sector Transition Plans: The Finance Playbook

The Playbook offers practical guidance on integrating robust finance plans within sector transition plans and technology scale-up roadmaps. Developed alongside the Net Zero Council, it is designed to help government, industry, and finance work together to develop actionable plans that unlock investment in high-emitting sectors.

Consultation on entity-level Transition Finance Guidelines

The Transition Finance Council is seeking feedback on draft Transition Finance Guidelines designed to support capital allocation to credibly transitioning entities across different asset classes and jurisdictions. Have your say now!

Discussion paper: Establishing credibility and integrity in transition finance

This paper introduces initial work to define high-level guidelines for credible transition finance, focusing on integrity, impact, and global applicability. The paper invited discussion ahead of the Transition Finance Guidelines consultation.

These publications represent the beginning of a wider programme of work by the Council to build market confidence, unlock investment, and establish the UK as a global leader in high-integrity transition finance.

The Transition Finance Council has three key functions: 

• Monitor and drive implementation of the TFMR’s recommendations;
• Support transition finance capacity building and engagement across a breadth of UK and international stakeholders, optimising and promoting the competitive position of the UK as a transition finance hub; and
• Convene working groups to progress priority areas in accordance with the Council’s objectives. 

Transition Finance Council Working Groups:

The Transition Finance Council operates three dedicated Working Groups led by members of the Strategic Steering Group. These working groups advance the Council’s objectives by delivering targeted outputs in the following focus areas:

1. Credibility and Integrity - Chaired by Vanessa Havard-Williams OBE, Chair of the Transition Finance Market Review
   The Working Group aims to establish and promote credibility and integrity in the transition finance market, embedding a shared understanding of the parameters of credible transition finance. Its key objectives include developing comprehensive guidelines, engaging internationally, and ensuring accessibility for emerging markets.
2. Pathways, Policies, and Governance - Chaired by The Rt Hon Chris Skidmore OBE, former UK Energy and Clean Growth Minister and leader of the Independent Review of Net Zero
   This Working Group focuses on creating long-term policy certainty which unlocks private investment in the transition and promoting the UK’s competitive position in transition finance. Its key objectives include developing sector-specific decarbonisation roadmaps and fostering strategic connections between key governance bodies. 
3. Scaling Transition Finance - Chaired by Faith Ward MBE, Institutional Investors Group on Climate Change (IIGCC) Chair and Chief RI Officer at Brunel Pension Partnership.
   The Working Group is dedicated to scaling transition finance flows by examining real-world applications of transition finance across asset classes, gathering insights from practical case studies and working towards targeted solutions which catalyse investment for the decarbonisation of high-emitting sectors.

The Council will publish half-yearly public progress reports.

To find out more please contact the Transition Finance Council secretariat at transitionfinancecouncil@cityoflondon.gov.uk.