Vanessa Havard-Williams OBE explores how the UK is building a credible transition finance market, from stronger policy and transition planning to public finance, insurance and investable projects. 

Financing the transition to a low carbon economy is often presented as a question of capital: how much money is needed, where it should come from, and which technologies or projects should receive it.

But the reality is more complicated. Finance cannot drive the transition in isolation. Companies will only invest at scale where the economics make sense, investors still need an appropriate return, and government policy plays a crucial role in shaping whether transition opportunities are commercially viable.

There are also difficult questions around what credible transition finance actually looks like. How should financial institutions support high emitting companies as they decarbonise? How can they distinguish genuine transition from greenwashing? And how can new technologies and first of a kind projects overcome the barriers that often prevent private capital from flowing?

That’s why this episode explores:

• What transition finance means, and why clear definitions and credible transition plans matter;
  
  
• Why effective real economy policy is essential if capital is to flow at the scale required;
  
  
• And how government, financial institutions, public finance and insurance can work together to remove barriers and support a whole economy transition.

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Links from this Episode:

• Scaling Transition Finance: Findings of the Transition Finance Market Review: https://www.theglobalcity.uk/insights/scaling-transition-finance
• From Planetary Hazard to Financial Stability: Disentangling Climate Risk and Institutional Responsibility (Lisa Sachs Report): https://ccsi.columbia.edu/from-planetary-hazard-to-financial-stability-disentangling-climate-risk-and-institutional-responsibility/
• Investor Climate Action: What Finance Can and Can’t Achieve (Tom Gosling Interview): https://www.garp.org/podcast/investor-climate-action-what-finance-can-and-cant-achieve 

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To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Centre: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

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Today’s Speaker

Vanessa Havard-Williams OBE is the Senior Independent Director of UK Export Finance and Chair of the UK Export Guarantee Advisory Council. She previously led Linklaters’ global environmental and climate change practice, founded the firm’s ESG practice, and co-led its Risk and Resilience and Crisis Management teams.

In 2024, Vanessa led the UK Government’s Transition Finance Market Review. She now plays a leading role in the development of the UK’s transition finance market, including as a member of the Transition Finance Council steering group and Chair of its working group on credibility and integrity.

Topics: Transition Risk, Climate Risk Management, Green Finance & Sustainable Business