On 9 June 2021, the Government announced the appointment of a Green Technical Advisory Group (GTAG). The GTAG will provide independent, non-binding advice to the Government on developing and implementing a Green Taxonomy in the UK context.
This includes advising on:
- Approach to developing a UK Green Taxonomy that is usable and practicable for financial and non-financial firms.
- UK Green Taxonomy requirements which drive informed decision-making for investors whilst placing a proportionate burden on business.
- Drawing together scientific and subject matter expertise to assist the Government in determining the technical screening criteria.
- The rationale, implications and recommendations for any deviations from existing international frameworks or taxonomies.
- How to deal with and manage any data gaps.
- How the UK Green Taxonomy can best support the UK’s transition to net zero.
- How the UK Green Taxonomy could be used to align and accelerate the delivery of wider Government policy, including its net zero strategy, green finance strategy and 25 year environment plan.
- The role the UK Green Taxonomy could play in tracking green financial flows.
The GTAG will be chaired by the Green Finance Institute.