The Green Technical Advisory Group (GTAG) has been set up to provide independent, non-binding advice to the government on standards for green investment. GTAG will oversee the government’s delivery of a “Green Taxonomy”, a framework which aims to provide clear standards for when investments can be defined as environmentally sustainable.
The government hopes that its Green Taxonomy will help clamp down on ‘greenwashing’ – exaggerated or false claims that an investment is environmentally friendly – and make it easier for investors and consumers to understand how a product or firm is impacting the environment.
GTAG will be chaired by Ingrid Holmes of the Green Finance Institute and will be made up of financial and business stakeholders, taxonomy and data experts, and subject matter experts drawn from academia, NGOs, the Environment Agency and the Committee on Climate Change.
The group will first meet in June 2021 and will provide initial recommendations to the government in September.