1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 6 strengths supporting economic growth 1.1 Sustainability highest number of 昀椀rms signed up to The UK 昀椀nancial services industry UK 昀椀nancial services companies are science-based climate targets with 86 has embraced the challenge of committed to sustainable operations The UK is a leader in sustainable 昀椀nance. CEOs and investors alike have embraced the transitioning the economy to net- and investments. signatories to SBTi; the US is second with 35 signatories. Institutional principles of ESG and this commitment is re昀氀ected in company ESG scores nationwide. zero emissions. More FPS 昀椀rms UK companies are leaders in have committed to net zero and investors in the UK are also committing to environmental targets. London ranks 昀椀rst in the Global Green Finance Index, and UK businesses have green targets here than in any committed to ESG investing principles Financial services companies in the through the UN Net Zero Asset committed to environmental targets around emissions and net zero. All this adds up other country. UK have signed up to important Owner Alliance, accounting for 11 of The transition to net zero is global programmes to reduce their to greater opportunity for investors with a sustainability mandate – the UK is home to the 74 global signatories. Not only ambitious. In 2019, the UK own emissions as well as those of one of the world’s largest green investor bases. The FPS industry plays a critical role in do these commitments help achieve government announced a target of investee companies. In 2022, 768 environmental outcomes; they also net zero greenhouse gas emissions by UK companies had signed up to the green 昀椀nance ecosystem, providing specialist support including capital structuring, drive a greater range of sustainable 2050, achievable through reduction the UN Principles of Responsible insurance, and consultancy, which contributes to services exports. investment options in the UK. and removal of emissions through Investing (PRI) – fewer than in 2021 Source technologies like carbon capture. due to mergers and consolidation Success will require concerted e昀昀orts of businesses. The UK has the UNEPFI 2023, UN Climate Change 2023 from government and industry, and the FPS industry plays a pivotal Sustainable 昀椀nance score role. To date, UK industry has demonstrated a clear commitment to 4,312 768 tackling climate change. The nation is London New York City Singapore Frankfurt Paris Hong Kong Tokyo the undisputed leader in companies UK companies committed UK 昀椀nancial services 昀椀rms commited to net zero targets with to net zero signed up to UN PRI (UK) (US) (Germany) (France) (Japan) 4,312 signatories in 2022. The US is second with 759 signatories. The UK also has the highest number of banks in the UN Net Zero Banking Alliance. The City of London is proud Vision for Economic Growth to contribute to advancing this important target through the Net Big move: Big move: Zero Delivery Summit, a high-pro昀椀le conference designed to keep the Create the conditions to scale Scale innovative approaches to net zero momentum going between and accelerate 昀椀nancing for a sustainable 昀椀nance. The UK has a COP meetings. just transition towards a low- history of pioneering sustainable Source carbon economy. Financial and 昀椀nance. There is an opportunity professional services already play for it to cultivate high-integrity UNFCCC Race to Zero 2022, UNNZBA 2022 an important role in supporting voluntary carbon markets, high- 69 60 13 51 52 16 33 the transition and will continue to integrity nature markets and do so. natural capital approaches.