A new report, sponsored by the British Embassy Lisbon, is the first study published to identify the green finance products in the Portuguese and UK markets
Sustainable Finance market in the UK and Portugal – A contemporary snapshot is a report to identify green finance products available in the Portuguese and British markets and foster future collaboration between the two countries in this sector.
The study analyses the role of green finance products towards sustainability, a fundamental tool to enable countries to reach their carbon neutrality commitments and to accelerate a transition to a green and inclusive economy.
In Portugal, sustainable finance market is at its early stages. In 2019, the “Letter of Commitment to Sustainable Financing” in Portugal and the document “Guidelines to Accelerate Sustainable Financing in Portugal” were signed by major sector players. These commitments are contributing towards accelerating the incorporation of sustainable finance practices within the core business of the financial players.
The UK was the first country in the world create the Climate Change Act, incorporating carbon reduction targets into country legislations in 2008, and it was the first country to make the Task Force on Climate-related Financial Disclosures (TCFD) framework mandatory across the economy by 2025. About 100% of major UK banks offer green loan programmes and the London Stock Exchange (LSE) has created a dedicated Green Bond Segment - the Sustainable Bond Market - becoming the first exchange to do so, with an accumulated green issuance of over £35 billion.
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Watch the launch event: