London has long been a leading global financial centre. To increase their competitiveness, the UK’s capital markets have been going through a period of significant reform. Is this process on track to succeed? What further reforms are planned? The European Capital Markets Union project has been slow going. Is this likely to change, and. If so, what will it take? Green bonds have already demonstrated that capital markets can be harnessed for climate purposes, but what do the next generation of market-based solutions look like for climate, nature and biodiversity? And how can London leverage its advantages to become the global centre for transition finance? Finally, capital markets are dynamic allocators of capital – what are the current drivers in international M&A and which are the hot sectors?