Climate minister: We can’t tackle the climate crisis without the City
As climate minister, I want to work with people who can actually deliver real change, which is why I need the City, writes Katie White
The stereotype of a climate minister is outdated, all placards and protests, a world away from boardrooms and Canada. In 2026, that picture is out of date. Tackling the biggest threat facing our country and our planet, while seizing one of the greatest economic opportunities of the 21st century, demands serious investment from serious people.
I came into climate politics through campaigning, travelling the country to help build public support for the 2008 Climate Change Act alongside brilliant NGOs, before taking on my dream role as climate minister last year. That background shaped my approach: seize the moment and work with anyone prepared to deliver real change.
That is why the truth today is simple. We cannot tackle the climate crisis without finance. And the prize is significant. According to the CBI, the UK’s green economy is growing three times faster than the overall economy. This is not a niche sector or a future aspiration, it is succeeding because it is backed by the leaders and institutions who, alongside government, invest in our entrepreneurs, back new technologies, fund green projects and support the transition of high-emitting and hard-to-abate sectors.
Green finance can propel City
That reality shaped how I approached the job from day one. One of the first things I asked for was a league table, to understand where the UK ranks on green finance, which competitors are pulling ahead and where we risk slipping back. Because in a global race for capital, hovering near the top is no place to stand still.
At the same time, the risks of inaction are clear. Extreme weather is reshaping markets, pushing up insurance costs, changing asset values and influencing everyday lending decisions. Alongside that, the transition is opening up new markets and more resilient ways to grow. The question is not whether this investment happens, but how quickly and confidently we move.
The UK has real strengths to build on. World class scientists, a globally recognised City able to mobilise capital at scale and professional services firms that know how to structure and de-risk complex projects. When the chair of the FCA describes the UK as the smartest bet for sustainable finance, he isn’t exaggerating.
And when the conditions are right, capital moves. UK green tech companies attracted £13.5bn in private investment in 2024, double the year before. Since 2021, the government’s Green Financing Programme has raised more than £51bn from investors to fund climate action, restore nature and support green jobs. Across the economy, green companies are scaling because investors recognise long-term potential.
This reflects what I hear repeatedly from business and investors. They are ready to invest, but they need clarity on direction, certainty over policy and confidence that government will follow through over the long term.
Capital looks for stability, not chaos. Threats from opposition parties to rip up climate commitments or burn the house down might make for headlines, but they create the uncertainty that drives investment elsewhere.
That is why government’s role as a partner matters so much: providing clear direction, long term certainty and sufficient scale, while removing the friction where it slows delivery. And that’s what this government is doing.
The Warm Homes Plan announced this week is a first-class example of what that partnership looks like in practice. Government is committing £15bn over five years to solar, heat pumps and batteries in our homes, helping households cut bills while cutting emissions. That long-term commitment sends a clear, stable signal to the market. But delivery at pace depends on manufacturers, installers, lenders, insurers and investors working together to turn funding into millions of upgraded homes.
I am writing this just after sitting down with senior City figures alongside Société Générale and TheCityUK. The debate is no longer about whether climate investment matters. That argument has been won. The focus now is on how we move faster, reduce friction and make the UK the easiest place in the world to put long-term capital to work.
So, yes, we will not tackle the climate crisis without the City. Not because government is stepping back, but because the scale of the challenge demands partnership at pace. Public leadership and private investment moving forward together, with confidence, clarity and conviction, to get ready for the future and protect the planet we depend on.
Katie White OBE is the Labour MP for Leeds North West and the minister for climate