The Digital Twin (DT) Hub was created in 2020 by the Centre for Digital Britain at the University of Cambridge. In 2022, the DT Hub transitioned to a multi-sector Industry and Catapult Network partnership housed at the Connected Places Catapult. It operates in collaboration with the new National Digital Twin Programme run by the Government's Department for Business, Energy and Industrial Strategy. In order to advance their work, the Hub created four working groups that sought to establish key ambitions, good practice guidance, and showcase events and materials, to support the deployment of digital twins in the UK. This first report by the Governance and Trust working group sets out key understandings and objectives for Digital twins, as they relate to Purpose, Value Creation, and the sustaining of trust in future Connected Digital Twin initiatives.