Diageo, Anglo American and SSE to advise UK government on transition finance

The UK government has announced the companies helping it work out how to grow transition finance in the country.

C-suite figures from companies including Associated British Ports, the Confederation of British Industry and SSE have been appointed to a new Transition Finance Council, as part of the government’s efforts to make the UK “the best place in the world to credibly raise transition capital, invest, and obtain financial and professional services in support of UK and global net zero ambitions”.

The creation of the Council was one of the recommendations made by the UK Transition Finance Market Review in October.

Its three new working groups are dedicated to working out how to scale transition finance, improve its credibility, and provide suitable sectoral pathways and policies for companies.

Members include Anglo American’s head of climate, Jonathan Dunn; Diageo’s head of regional treasury, Ildiko Cseri; and SSE’s director of strategy, Declan Burke.

A number of institutional investors and banks are also represented on the working groups.

The Financial Conduct Authority, HM Treasury and the Department for Energy Security and Net Zero are among the regulators and government departments officially observing the process.

Julia Hoggett, the CEO of the London Stock Exchange and Vanessa Havard-Williams, the lawyer who chaired the Transition Finance Market Review, both sit on the steering committee.

The Council will produce output every six months, and its mandate will be reviewed after a year.