The Green Technical Advisory Group (GTAG) provides independent, non-binding advice to Government on the design and implementation of a UK Green Taxonomy. The UK Green Taxonomy will provide a common framework, setting the bar for investments that can be defined as environmentally sustainable, helping to tackle ‘greenwashing’, improve understanding of environmental impact to help companies and investors make informed green choices, support investment in sustainable projects and boost efforts to tackle climate change.
The Green Technical Advisory Group or “GTAG” is an expert group, chaired by the Green Finance Institute, made up of key financial market stakeholders and subject matter experts. Its advice is considered as an input to the Government’s policy development process.

A robust, science-based taxonomy will accelerate investment in climate-friendly projects by establishing a common, clear and granular definition of the

economic activities that will characterise the UK’s future green economy. The UK Green Taxonomy will build on existing international taxonomies, including the EU taxonomy, and will focus on net zero in the UK context. It is an opportunity for the UK to set a high bar globally with a rigorous, science-based taxonomy that helps accelerate green finance and support the UK’s transition to a net zero economy.

Role of the GTAG

The role of the GTAG is to provide non-binding advice to HMG on market, regulatory and scientific considerations for developing and implementing a UK Green Taxonomy which facilitates more informed investment decisions. This includes advising on:

  • Approach to developing a UK Green Taxonomy that is usable and practicable for financial and non-financial firms.
  • UK Green Taxonomy requirements which drive informed decision-making for investors whilst placing a proportionate burden on business.
  • Drawing together scientific and subject matter expertise to assist HMG in determining TSC.
  • The rationale, implications and recommendations for any deviations from existing international frameworks or taxonomies.
  • How to manage any data gaps.
  • How the UK Green Taxonomy can best support the UK’s transition to Net Zero.
  • How the taxonomy could be used to align and accelerate the delivery of wider HMG policy, including its Net Zero Strategy, Green Finance Strategy and 25 Year Environment Plan.
  • The role the taxonomy could play in tracking green financial flows.

The GTAG’s role is advisory. It will feed into but not replace the Government’s policy development process, and the TSC will be subject to appropriate, open consultation prior to making. Further details about the role of GTAG can be found in the Terms of Reference.

GTAG Publications

GTAG

Promoting the international interoperability of a UK Green Taxonomy

GTAG

Streamlining and increasing the usability of the DNSH criteria within the UK Green Taxonomy

GTAG

Developing a UK taxonomy adapted to the UK’s needs in the short and medium term: Scope, coverage and reporting considerations

GTAG

Creating an institutional home for the UK Green Taxonomy: exploring options

GTAG
Advice on the development of a UK Green Taxonomy


GTAG

Applying the UK Green Taxonomy to wider policies: the value case and options


GTAG

Operational considerations for taxonomy reporting: assessing and dealing with data gaps and the use of proxies

GTAG

GTAG Final Statement

GTAG
Statement on the publication of advice paper

 

GTAG

Getting KPIs Right: Implementing an effective reporting regime for the UK Green Taxonomy

 


GTAG

Treatment of green financial products under an evolving UK Green Taxonomy

GTAG Members

The GTAG consists of 18 original members, 4 ad-hoc members, plus a chair, 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.

Ingrid Holmes
Green Finance Institute
Chair, GTAG

“A UK-specific taxonomy based on robust science is essential to underpin the UK’s ambitious net-zero goals clarifying which activities can be considered environmentally sustainable.”

Users of the taxonomy – Financial Services

Faith Ward
Institutional Investors Group on Climate Change

James Alexander
UK Sustainable Investment and Finance Association

Elizabeth Gillam
International Regulatory Strategy Group

Users of the taxonomy – Non-Financial Services

Nick Molho
Aldersgate Group

Rain Newton-Smith
Confederation of British Industry

Taxonomy & Data Experts

Mike Thompson
Committee on Climate Change

Eliette Riera
Principles for Responsible Investment

Anna Creed
Climate Bonds Initiative

Lily Dai
FTSE Russell, London Stock Exchange Group

Nadia Humphreys
Bloomberg

Katie Spooner
Environment Agency

Academia & Subject Matter Experts

Paul Fisher
Cambridge Institute for Sustainability Leadership

Rhian-Mari Thomas
Taskforce on Nature-Related Financial Disclosures (TNFD)

Theodor Cojoianu
University of Edinburgh

Nick Robins
Grantham Institute/LSE

Nicola Ranger
Centre for Greening Finance and Investment

NGOs

Kate Levick
E3G

Karen Ellis
WWF

Ad-Hoc Members

Rachel Barrett
Linklaters

Mark O’Sullivan
PwC

Amanda Swaffield
Deloitte

Jeffrey Twentyman
Slaughter & May

Observer Group

  • HM Treasury
  • Financial Conduct Authority
  • Bank of England
  • Other relevant HMG departments and regulators

Taxonomy landscape

Taxonomies have been developed in the EU, China, Malaysia, Bangladesh and Russia. The UK Green Taxonomy will build on these existing taxonomies, including the EU taxonomy and will focus on net-zero in the UK context. This is an opportunity for the UK to set a high bar globally with a science-based taxonomy. For more information please contact info@gfi.green.

For media enquiries please contact comms@gfi.green.

GTAG Resources

GTAG
Operational Context

GTAG
Structure

GTAG Minutes

Meeting 1:
23 June 2021

Meeting 2:
27 July 2021

Meeting 3:
29 September 2021

Meeting 4:
29 November 2021

Meeting 5:
22 February 2022

Meeting 6:
18 May 2022