APPG on Fair Business Banking Statement Updates

Bankers for Net Zero - Consultative Commitments

The following was published as a consultative text in January 2020. It went through a series of discussion with various banks however nothing was ever ratified. Final commitment texts sit with the United Nations Environment Programme Finance Initiative. We look forward to continue working with the Net Zero Banking Alliance to bring the ratified commitments to action in the United Kingdom. Bankers for Net Zero is an initiative leading work to develop a set of policy recommendations ahead of COP26 designed to create a regulatory environment that enables banks to play their part in financing the net-zero transition. The initiative
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Joint Statement from Lloyds Banking Group and the APPG on Fair Business Banking

Kevin Hollinrake MP, co-chair of the APPG on Fair Business Banking, and Charlie Nunn, group chief executive of Lloyds Banking Group, have held an introductory meeting at Charlie’s request to discuss the challenges facing the UK’s SMEs. Charlie reaffirmed Lloyds Banking Group’s commitment to support SMEs as one of the largest lenders to the sector in the UK and a key player in the government’s emergency lending schemes. Kevin invited Lloyds to work with the APPG to build on the successful provision of Bounce Back Loans and CBILS to improve access to finance and business opportunities for SMEs including through
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Grave misconduct in insolvency profession uncovered 21st  June 2021 Today’s landmark provisional findings against KPMG and an independent insolvency practitioner David Costley-Wood have exposed a pattern of exploitation and serious conflicts of interest in the insolvency profession. This is a timely reminder of the potential for serious failures in this industry and reinforces the need for a strong, independent regulator to ensure transparency and fairness are prioritised in this industry. The APPG on Fair Business Banking launched an inquiry into the insolvency profession in January 2021 and results of an industry-wide call for evidence are expected in the Autumn. Ahead
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Call for evidence: Financing & capitalising SMEs - APPG Levelling Up Report

The APPG on Fair Business Banking is calling for written evidence to be submitted to inform its inquiry into financing and capitalising the UK’s SMEs. The inquiry is looking into how more diverse funding models can deliver more choice and better outcomes for SMEs in the UK. The SME lending market in the UK is currently dominated by large, shareholder driven banks. However, a more diverse funding model has been proven to be more effective at weathering economic shocks – take Germany as an example of a country with a diverse offer of financing options for business lending that has
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Financial Services Bill - Guest blog from Baroness Hayman, Co-Chair of Peers for Planet

  Peers have secured significant changes to the Financial Services Bill in the House of Lords this week, which will ensure that climate considerations are part of the future regulatory framework for the UK’s financial services sector. The Bill is the first step in a series of wider financial services sector reforms that will set the framework for a new approach for the UK sector.  Financial services can play a pivotal role in tackling the climate and biodiversity crisis and, in spite of growing momentum within the sector to identify and report on climate change risks, peers were concerned that
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