UK becoming the first net zero finance centre

The UK government was ordered last month to produce an updated climate strategy outlining how it will accomplish its own climate targets after the High Court ruled that the net-zero policy was illegal. The London Fire Brigade experienced their busiest day since the Second World War at the same time as the UK set a new record high temperature of above 40C. The publishing of the Financial Services and Markets Bill was the news of the week that caused the most concern. The “Future Regulatory Framework” will be put into effect by legislation, which will significantly alter how financial services are governed for at least a generation.

The bill presented to Parliament includes:

  • Statutory goal of net-zero
  • Inclusion of financial regulation in the framework

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