UK corporates interested in EU taxonomy, regardless of Brexit

Author: Jimmie Franklin | Published: 18 Mar 2020

Market participants are positive that the UK will remain aligned with the EU’s sustainable finance taxonomy following the end of the Brexit transition period in December 2020 – assuming all existing timelines remain in place in spite of the global coronavirus pandemic.

"We don’t see these two things as incompatible," said Rob O’Malley, head of treasury at Cadent, a UK-based gas company. "We believe that we are well aligned with the developing transition bond framework and are committed to helping facilitate a large-scale move to hydrogen and other low-carbon gases in our networks, to massively decarbonise heat and transport and help the UK reach net zero."

Confidence that the UK will remain aligned after the end of transition phase was echoed by Ruth Knox, corporate managing associate at Linklaters.

ESG survey: Fifty shades of green

"Without question, UK-headquartered companies are keeping track of the developments in the EU...