Mansion House speech highlights sustainable finance

We are delighted to record that the Chancellor of the Exchequer Rachel Reeves November’s Mansion House speech referenced sustainable finance, transition plans, ESG and clean energy many times.

This appears to mark a highly welcome return to taking sustainability seriously – which we believe is good for the UK, good for growth and good for investors.

The speech also articulates concerns about over-regulation post financial crisis and the need to take more risks.  We particularly welcome this perspective in light of the FCA’s SDR labelling implementation process, which we see as having become too prescriptive.

There is a link to the speech and the (now closed) call for evidence published at the time below.

Mansion House speech:

• https://www.gov.uk/government/speeches/mansion-house-2024-speech

The Government also published a Financial Services Growth and Competitiveness Strategy call for evidence:

• https://assets.publishing.service.gov.uk/media/6735f4670b168c11ea82311d/Financial_Services_Growth___Competitveness_Strategy_-_Call_for_Evidence_.pdf
• https://www.gov.uk/government/calls-for-evidence/financial-services-growth-and-competitiveness-strategy

FCA’s response to the 2024 Mansion House Speech

• https://www.fca.org.uk/news/press-releases/fca-statement-chancellors-mansion-house-speech