The newly-formed Transition Finance Council (TFC) has appointed three senior figures in sustainable finance to lead working groups supporting its core mission of making the UK a global transition finance hub. Faith Ward, Chief Responsible Investment Officer at Brunel Pension Partnership, will chair the TFC’s scaling transition finance working group; former energy minister Chris Skidmore, now Founding Partner of Demos Capital Parners, will chair its policies and pathways working group; and Vanessa Harvard-Williams, formerly chair of the Transition Finance Market Review (TFMR), will chair its credibility and integrity working group. The formation of the TFC was one of the key recommendations of the TFMR, which reported last October. It also called for the introduction of mandatory transition plans for companies and financial institutions in line with the standards of the Transition Plan Taskforce, as well as the development of a transition finance classification system. In January, the TFC announced the appointment of former business secretary and COP26 president Alok Sharma as its Chair, and Irem Yerdelen, Board Director at the Green Finance Institute, as its Deputy Chair. The remit of the TFC is to drive the implementation of the TMFR’s recommendations, support capacity building and engagement with UK and international stakeholders, and convene working groups in priority areas. “While there has been progress in many areas of transition finance, enormous untapped potential remains that could be unlocked with improved clarity and consistency. This requires a joined-up approach to policy and regulation, significant capacity-building, and close coordination with key stakeholders in finance and government,” said Ward.
Attended the first meeting of the UK’s Transition Finance Council established by @hmtreasury
I will be chairing its working group on sector pathways and policy. Further details will be announced shortly- looking forward to shaping future policy to unlock investment @cityoflondon pic.twitter.com/v6ZedRgVW6— Chris Skidmore (@CSkidmoreUK) February 13, 2025
