Treasury appoints new group to help tackle financial sector greenwashing

Green Technical Advisory Group launched

clock • 4 min read
The Green Technical Advisory Group will oversee ministers' delivery of a 'Green Taxonomy'
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The Green Technical Advisory Group will oversee ministers' delivery of a 'Green Taxonomy'

The Treasury has announced the formation of a new independent body to provide ministers, officials, and businesses with guidance on how to address concerns over alleged greenwashing within the financial industry.

The Green Technical Advisory Group (GTAG) will oversee the government's delivery of a "Green Taxonomy" - a common framework that aims to provide clear standards that would establish when investments or financial products can be defined as environmentally sustainable. Green financial products and ESG-focused funds have experienced a surge in demand in recent years. But their growing popularity has been accompanied by concerns that some green financial products struggle to deliver promised environmental benefits - fears that have been further amplified by cases of nominally green investmen...

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