![\"\"](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/07\/T9_UK_v1-716x308.jpg\" "\\"T9_UK_v1\\"\/")
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The UK will not develop a domestic green taxonomy after the government acknowledged a lack of public demand for such a framework.<\/p>\n
The government has concluded that \u201cother policies were of higher priority to accelerate investment into the transition to net zero and limit greenwashing\u201d, as part of the Treasury\u2019s 10-year growth strategy for the UK financial sector published <\/a>on Tuesday.<\/p>\n This brings an end to a multi-year project intended to develop such a framework, including the appointment <\/a>of expert advisory group the Green Technical Advisory Group (GTAG) in 2021 to oversee taxonomy development.<\/p>\n Part of the GTAG\u2019s remit was to streamline the do no significant harm (DNSH) hurdle requirement introduced by the EU taxonomy, which the body identified <\/a>as a significant bottleneck to adoption. Reforming DNSH was seen at the time as a way to put \u201cthe UK at the forefront of the drive toward global green taxonomy harmonisation\u201d.<\/p>\n The UK government noted that a consultation which explored \u201cthe value case\u201d for a taxonomy held earlier this year did not reveal significant public support for a domestic taxonomy, in a response <\/a>also published on Tuesday.<\/p>\n \u201cWhilst our ambitions to continue as a global leader remain unchanged, the consultation responses showed that other policies were of higher priority,\u201d it said.<\/p>\n The response noted that despite some positive feedback,\u00a0\u201cthe distinct value of a UK Taxonomy over and above other policy was not clear\u201d.<\/p>\n Around 45 percent of consultation responses showed a \u201cpositive sentiment\u201d toward a UK taxonomy, while 55 percent \u201chad a mixed or negative sentiment\u201d.<\/p>\n Notably, only 14 of the total 150 respondents were classified as investors.<\/p>\n Concerns over the taxonomy were \u201clargely centred\u201d around the experience of applying existing taxonomy frameworks, and doubts on whether these were \u201cdelivering on desired objectives\u201d.<\/p>\n The government said that its work on adapting the International Sustainability Standards Board (ISSB)<\/a> reporting standards, sustainability assurance and delivering on a commitment to implement 1.5C-aligned transition planning requirements \u201cdemonstrate that we are working in partnership with industry to deliver on our plans to make the UK a global hub for green and transition finance activity\u201d.<\/p>\n