Rishi SunakRishi Sunak, the UK's Chancellor, is expected to promise to make the UK the "most advanced and exciting" financial service hub in the world.He will speak at Mansion House on Thursday to discuss a plan for the sector to "sharpen its competitive advantage".Sunak will also outline a plan to make companies report their environmental impacts.Companies will be required to explain how climate change could affect them.Treasury stated that the new Integrated Sustainability Disclosures Requirements would apply to all firms, "across the economy"."As the financial leadership is passed to the next generation, I feel hopeful about the future. Ambitious at home. Confident internationally," will be the response of the chancellor."With a plan that will make this country the most exciting and advanced financial services hub in the world for decades to be, creating prosperity here and promoting our values overseas."The full roadmap document will contain additional details about what is called an "ambitious vision" to reform the financial sector. This document will be published later.The speech of Mr Sunak comes amid ongoing concern about the future direction of the UK's financial industry after Brexit.As a result of the Brexit-related changes in finance rules, Amsterdam was displaced by London as Europe's largest financial trading center.Climate targetsThursday's appearance of Mr Sunak marks the first time he will give the Mansion House Speech, the key policy speech by the chancellor.It's a place for him to express his views on the economy and wider world, and his hopes for the future.He will announce new measures to increase pressure on large companies to reduce the impact of climate change.Shell, the oil giant, promised earlier this month to reduce its greenhouse gas emissions faster after a Dutch court ruling.Continue the storyShell was sued by environmental groups and thousands upon thousands of Dutch citizens.It has established targets, similar to BP's rival, in order to reduce emissions to "net zero", by the middle of the century.Experts say that mandatory reporting would make companies' progress more transparent and easier to compare.The Treasury hopes to raise at least 15 billion through a green bond that the government revealed Wednesday.The money will go towards zero-emission buses, offshore wind, and other efforts to decarbonise buildings and homes, as well as climate adaptation programs such as flood defenses and tree planting.
