Transition Finance Market Review for global impact

The City of London Corporation proudly announces its support for the Transition Finance Market Review, officially launched on January 22, 2024. This comprehensive review is set to run for an initial six months, with a possibility to extend to nine months.

The 2023 Green Finance Strategy announced that the UK Government will commission a review into how the UK can become the best place in the world for raising transition capital. This is an independent Review led by Vanessa Havard-Williams, who will be supported by a panel of advisors and a secretariat.

Defining Transition Finance

At the heart of this review is the concept of 'transition finance,' encompassing financial products and services strategically designed to support high-emission companies and activities in their decarbonization efforts over time. These financial instruments play a vital role for companies committed to reducing greenhouse gas emissions, aligning with global climate and nature goals.

Review's Purpose

The Transition Finance Market Review aims to discern what is required for the UK's financial and professional services ecosystem to evolve into a premier hub for providing transition financial services. Its primary goal is to facilitate both UK and international companies and investors in aligning their investments with credible net-zero pathways.

Opportune Timing

As the world grapples with climate challenges, convening market experts now is a strategic move. The review will systematically explore how to develop and structure transition finance instruments with high integrity, utilizing the expertise of UK-based financial services. This includes unlocking long-term capital, stimulating innovative solutions, and scaling up financing mechanisms across the investment ecosystem.

The City of London Corporation's Role

Acting as a cornerstone for this ambitious project, the City of London Corporation is committed to seconding staff to the secretariat, providing physical working spaces, and extending external consultancy support. The Corporation will also offer office, event, and meeting spaces to facilitate the seamless execution of the review.

This marks a crucial step towards reshaping the financial landscape and fostering sustainable practices on a global scale. The Transition Finance Market Review is poised to leave a lasting impact, guiding the way for a greener, more sustainable future.

For more detailed information and the terms of reference, please visit the government's Transition Finance Market Review page.

If you wish to engage in further discussions about the review, kindly reach out to: TFMR@cityoflondon.gov.uk.

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