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<p>The Government is committed to working with UK financial institutions to further
tackle deforestation-linked finance. As we set out in the updated Green Finance Strategy,
we have begun this work with Government-convened roundtables having commenced in Summer
2023.</p><p> </p><p>The global approach on disclosure standards, such as the International
Sustainability Standards Board (ISSB) or the Taskforce on Nature-related Financial
Disclosures (TNFD) is a vital condition for success in improving nature-related disclosure.</p><p>
</p><p>Following the making of the first relevant regulations under paragraph 1 of
Schedule 17 of the Environment Act and as set out in the Financial Services and Markets
Act 2023, HM Treasury will conduct a review to assess the extent to which regulation
of the UK financial system is adequate for the purpose of eliminating the financing
of illegal deforestation, and to consider what, if any, changes to the regulatory
framework may be appropriate.</p>
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