14 PLANET FINANCE


The Sustainable Finance Standardization Programme


There are two main strands to the programme, the first a UK agenda will see two Publicly Available Specifications (PAS) developed, a Sustainable Finance Framework and another on Sustainable Investment Management. The final PAS documents are expected to be published towards the end of 2019/early 2020. The scoping work for the PASs was supported by over 50 organizations and experts representing private companies from across the financial services sector, central and local government, consultants,


academia, professional bodies and trade associations. They address a clear demand from the finance industry for guidance, detail and consensus around critical aspects, and were chosen to have the maximum impact, particularly for SMEs in the finance sector. A further PAS on sustainable finance funds and products is in the early stages of planning. The programme is an integral part of the


UK Government’s Clean Growth Strategy and is also referred to in the


UK’s Industrial Strategy. Support comes from the Department of Business, Energy and Industrial Strategy (BEIS) and the Green Finance Initiative, a joint initiative of Government and the City of London Corporation. A Strategic Advisory Group has been set up to provide direction for the Sustainable Finance Standardization Programme, chaired by Peter Young, chairman of the Green Purposes Company and a champion of sustainability and green finance in the UK.


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