After the UK approached a tariff-free agreement with Australia, senior managers in the City of London raised concerns about the environmental impact of encouraging trade with distant countries.

The member of the British “Financial Times” city network, a forum composed of more than 50 senior executives, supports the UK’s efforts to open borders for global trade and introduces new sources of overseas financing such as sovereign wealth funds.

James Bardrick, chief executive of Citigroup UK, said the UK needs to remain open to “transparent and responsible” to obtain foreign direct investment from private and public sources, and to “open up trade and services” , And to new markets, talents, ideas and innovations”.

However, questions have been raised about the long-term consequences of these two policies, which are crucial for Britain’s attempt to reposition itself as the center of a global trade and investment hub after leaving the European Union.

Many people are concerned about the environmental costs of physical trade with countries such as Australia.

Ann Cairns, Executive Vice Chairman of Mastercard, said that beef flying away from Australia is more environmentally friendly than buying beef from local farmers. “Maybe there is another way to ensure that we buy high-quality local products and reflect the true cost and value by incorporating environmental impact into the supply chain cost.”

Aviva Group CEO Amanda Blanc agreed that “actual costs, including environmental costs, should be properly considered when considering trade.”

Federal Hermes (Federated Hermes) senior adviser Daniel Godfrey (Daniel Godfrey) said that the United Kingdom needs to be set at the true cost of “externalities inherent in transportation and agriculture.” . . Whether it is achieved through appropriate carbon taxes and natural taxes or subsidies”.

Andreas Utermann, the former head of Allianz Global Investments, also proposed “externalities”, such as the carbon cost of long-distance transportation of food that “to a certain extent is not reasonably priced”.

He added: “The so-called’duty-free’ trade agreements will require careful scrutiny, especially when smaller economic entities (such as the United Kingdom) reach agreements with larger entities…. There are usually hidden costs, possibly Is it political or economic/economic.”

Paul Drechsler, chairman of London First, emphasized the political cost of struggling to make a deal. He said this language risks seeming desperation, “If we seek the other side’s support , This is not the best signal.”

He added that when promoting agricultural development, “Australians knew they wanted to enlist the participation of Jews” and the convincing political argument “must be responsible and sustainable, and support British farmers”.

Canary Wharf Group CEO Shobi Khan said that consumers must ultimately decide whether they are Australian or Irish sheep and lambs based on factors such as price, natural conditions or sustainability.

There is widespread support for another major goal of the government, which is to introduce overseas investment from sovereign wealth funds. Investment Minister Gerry Grimstone told the Financial Times last month that the UK is in talks with sovereign wealth and pension funds to invest in green energy projects in the UK, including large factories and offshore wind farms. .

Khan said that sovereign wealth funds can not only help improve the environment, but also help the country’s infrastructure.

Keynes said that the UK should welcome foreign investment as long as it is not a “big sale” of British assets.

She said: “Sovereign wealth funds are a useful source of capital, and it makes sense to find a broad portfolio of investors.”

But Manchester City executives also said that the government should not forget the source of domestic funding. Blank said that overseas investment should be welcomed, but he added that the UK is not short of funds, with a total pension fund of £6 billion.

“Therefore, this should not be an all-or-nothing issue. I don’t want easy access to sovereign wealth funds as a reason for us to embark on reforms, so that more pension assets can be invested in long-term, sustainable investments in our communities. “

Anne Richards, CEO of Fidelity International, agreed that the government should strike a balance between overseas capital and resources near the country, “so that UK pension funds and individuals can benefit from domestic investment opportunities “.

Utman also warned that it is naive to turn a blind eye to the origin of “sovereign wealth funds.” . . Of course, let us be open to capital inflows, but we must also be very open and transparent about costs.”