Alok Sharma Leads Transition Finance Council

Lord Alok Sharma, a notable British Indian peer and former COP26 president, is appointed Chair of the Transition Finance Council. The council aims to make the UK a hub for transition finance, crucial for meeting climate goals. It will involve various sectors to mobilize investment towards Net Zero targets.

Lord Alok Sharma, a British Indian peer and influential climate advocate, has been appointed the Chair of the Transition Finance Council. This strategic role comes after his tenure as the president of the COP26 UN Climate Conference, where he played a pivotal role in the historic Glasgow Climate Pact.

The City of London Corporation announced that the new council aims to position the UK as a leading market for 'high-integrity transition finance.' Leveraging the UK's strengths, the council seeks to facilitate economic transitions to meet cleaner energy objectives, drawing participation across financial and professional services, government, and civil society.

The council is a key recommendation from last year's Transition Finance Market Review. It will work towards scaling transition finance solutions, focusing on enabling broader access to capital for decarbonization activities. This initiative aligns with the overarching mission of boosting the UK as a central hub for sustainable finance.

(With inputs from agencies.)