A green technical advisory group (GTAG) will provide "independent, non-binding advice" to the Government over the delivery of a ‘green taxonomy', a framework that sets the bar for environmentally sustainable investments.
The Government claims the green taxonomy itself will clamp down on ‘greenwashing' - unsubstantiated or exaggerated claims about how environmentally friendly an investment is.
The GTAG will be chaired by the Green Finance Institute and made up by financial stakeholders, taxonomy and academic experts, NGOs, the Environment Agency and the Committee on Climate Change.
Ingrid Holmes, executive director of the Green Finance Institute, said:
"The GTAG will play a key role, advising the Government on implementing a robust, science-based taxonomy that is adapted to the specific needs of the UK context, and works for all stakeholders.
"We're delighted to chair the GTAG, and to welcome all 18 members onboard, all of whom have a demonstrable interest and/or track record of being engaged on the issue of developing and using taxonomies, and the practicality of applying a taxonomy in a UK-specific context".
The group is expected to meet later this month.
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