The Corporation is today calling on the Liberal Democrats to work with the financial sector to raise the private capital needed to drive green economic growth in the UK as they gather for their party conference.
The City Corporation and the Social Market Foundation will host a roundtable with Wera Hobhouse, Liberal Democrat spokesperson for Energy and Climate Change, and Transport, to explore how to make green investments more attractive to the private sector so as to drive economic growth across the UK. The session will also be attended by representatives from business, regulators and councils.
In their 2024 manifesto the Liberal Democrats promised to place tackling the climate crisis at the centre of all their policies and to “put tackling climate change at the heart of a new industrial strategy”.
However, there is a significant investment gap to deliver green economic growth with an additional £8bn – £111bn needed to deliver Net Zero infrastructure by 2030 alone. As part of it’s “Vision for Economic Growth” the City Corporation has set has set out the financial reforms needed to raise the private capital needed to fill the gap.
Later, the City Corporation’s Policy Chairman Chris Hayward will be joined by Sarah Olney MP (spokesperson for the Climate Emergency, Business & Energy and Transport, George Friden (ambassador for Luxembourg), Martin McTague (Chair of Federation of Small Businesses) and key figures from the financial and professional services sector to discuss raising investment levels and climate change mitigation strategies in greater detail.
Chris Hayward, Policy Chair at the City Corporation, said:
“Boosting green economic growth is key and we must work closely with all stakeholders across the UK to create momentum.
“It is vital that we give the financial and professional services the attention it requires as it has the potential to deliver billions into our economy as per our Vision for Economic Growth.
“The climate crisis is the greatest challenge humanity has ever faced. The UK’s net zero transition investment gap is £100bn and leveraging private sector finance will create new jobs, new technologies, and new economic growth.
“Politicians from all parties must also provide clarity and commitment around sector-specific transition policies. We need strong, pragmatic progress: no denial and no divestment.”
';
