The UK Government has officially launched a green finance taskforce to accelerate the funding necessary for decarbonisation.
At the opening ceremony of Climate Week in New York, Climate Change Minister Claire Perry said it would be made up of a range of financial experts with the aim of stepping up funding for decarbonisation.
She also said the government will also start developing the world’s first green financial management standards with the British Standards Institute.
The government believes shifting to a low carbon economy offers the UK a multi-billion pound investment opportunities, new jobs and increased exports.
Between 1990 and 2016, the country’s GDP has grown by 67% as carbon emissions have simultaneously fallen by 42%, suggesting clean energy and growth can continue hand-in-hand.
The Minister said: “The transition to a low carbon economy is a multi-billion pound investment opportunity and a key part of this government’s Industrial Strategy.
“Developing standards to promote responsible investment in sustainable projects and establishing the Green Finance Taskforce will help ensure businesses across the UK take full advantage of it.”