Green Technical Advisory Group (GTAG)
The GTAG is advising the government on the delivering of the UK’s ‘green taxonomy’ – a common framework setting the bar for investments that can be defined as environmentally sustainable. It is chaired by the Green Finance Institute, comprised of 18 representatives, and will be making non-binding recommendations to government on the taxonomy. To date, the GTAG has provided formal advice to government on: the taxonomy’s use-cases, approaches to considering the on-shoring of the EU’s Technical Screening Criteria (TSC), lessons learned from taxonomy development efforts outside the UK, and the pros and cons of UK diverging from the EU taxonomy.
UKSIF has been chairing a dedicated work-stream on providing market certainty and managing expectations on taxonomy evolution. As part of this, we organised an industry-wide survey towards the end of 2021 to gauge members’ views on the value for extending the UK’s taxonomy in future to cover transitional economic activities and social issues. The survey’s results were presented to government at the final meeting of the GTAG in 2021, and we envisage they will play an important part in informing the government’s work on the taxonomy going forward.
Details on the purpose of the GTAG, its membership and the meeting minutes can all be read here. For the latest UKSIF member updates on the development and direction of travel of the UK’s taxonomy, you can head to the Analysis and Intelligence section of the website.