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Select committee: Environmental Audit Committee

Green Finance inquiry

Closed Opened 23 Nov 2017 Closed 23 Nov 2017

Environmental Audit Committee Inquiry on parliament.uk ↗

Inquiry scope (the committee's words)
The Environmental Audit Committee launches a Green Finance inquiry to scrutinise the Government’s strategy to develop ‘world leading Green Finance capabilities’. The Committee is interested in how investment in longer-term sustainable development can be incentivised across the economy.

Where it stands

The inquiry is closed, opened 23 November 2017.

The committee has published 1 report, most recently 6th Report - Green finance: mobilising investment in clean energy and sustainable development on 16 May 2018.

The government's response

Published 30 July 2018.

Summary written by Accountability Index from the government's response. It is not the government's own words.

The Government welcomes the Committee's inquiry and says green finance is a key priority, while it is still considering the Green Finance Taskforce's recommendations before responding to them.

  • On consulting before the 2019 CfD auctions, the Government "notes" the recommendation but says there "may be a wide range of ways" to bring forward new low carbon generation, and that it "will continue to engage with stakeholders".
  • On carbon pricing, it will target a Total Carbon Price until unabated coal is no longer used in power generation, and says extending carbon pricing across the whole economy would pose "significant practical challenges".
  • On the European Investment Bank, it "considers that it may prove to be in the mutual interest of all sides" to keep "some form of ongoing relationship" and will "explore these options with the EU" in negotiations.
  • On a sovereign green bond, it "continues to consider" the option, and would first need to be satisfied of "cost-effective financing for the taxpayer" and "sustainable demand".

Read the government's response ↗ Report an error

Reports

All reports

Evidence

  • 5 oral evidence sessionsLatest 21 February 2018
All evidence

Recent activity

Reports

1 report

Oral evidence sessions

5 sessions

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Date Session and witnesses Source
21 Feb 2018
Oral evidence session
No witnesses recorded 		View ↗
20 Feb 2018
Oral evidence session
No witnesses recorded 		View ↗
6 Feb 2018
Oral evidence session
No witnesses recorded 		View ↗
23 Jan 2018
Oral evidence session
No witnesses recorded 		View ↗
16 Jan 2018
Oral evidence session
No witnesses recorded 		View ↗

Correspondence

36 letters

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PublishedDirectionLetter
20 Jul 2018 To committee Letter from the Finacial Conduct Authority to the Chair on the Commmittee's Greening Finance report, 6 July 2018
20 Jun 2018 Not recorded Correspondence from LCERIsk and London Stock Exchange Group regarding oral evidence to the Green Finance inquiry
25 May 2018 Not recorded Lloyds pension Green Finance response Appendix
25 May 2018 Not recorded West Yorkshire Pension Fund response
25 May 2018 Not recorded West Midlands Response
25 May 2018 Not recorded Universities response to green finance inquiry
25 May 2018 Not recorded Tesco response
25 May 2018 Not recorded Strathclyde response green finance
25 May 2018 Not recorded Shell green finance response
25 May 2018 Not recorded Rolls Royce pension green finance response
25 May 2018 Not recorded RBS pension fund green finance response
25 May 2018 Not recorded Railways Pension fund green finance response
25 May 2018 Not recorded Parliament Pension Fund response
25 May 2018 Not recorded Northern Powergrid response
25 May 2018 Not recorded National Grid Pension Green Finance Response
25 May 2018 Not recorded Mineworkers' Pension Scheme green finance response
25 May 2018 Not recorded London Pension Fund Authority green finance response
25 May 2018 Not recorded Lloyds pension Green Finance Inquiry response
25 May 2018 Not recorded HSBC response
25 May 2018 Not recorded Greater Manchester response
25 May 2018 Not recorded Ford pension green finance response
25 May 2018 Not recorded Electricity Pensions response
25 May 2018 Not recorded BT Pension Fund response
25 May 2018 Not recorded British Steel pension Green Finance response
25 May 2018 Not recorded British Airways Pension Fund repsonse
25 May 2018 Not recorded BP Pension Fund response
25 May 2018 Not recorded BBC Pension Trust response to Green Finance Inquiry
25 May 2018 Not recorded Barclays Bank UK Retirement Fund response
25 May 2018 Not recorded BAE Systems green finance response
25 May 2018 Not recorded Aviva Pension Green Finance response
28 Mar 2018 To committee Letter from the Chair to the Secretary of State on climate change adaptation, 22 March 2018
26 Mar 2018 To committee Letter from the Treasury and the Department for BEIS to the Chair on Green Finance, 14 March 2018
6 Mar 2018 Not recorded Letters to Pension Trustees on Climate Change risks
6 Mar 2018 To committee Letter from the Pensions Regulator to the Chair on on Green Finance, 1 March 2018
5 Mar 2018 To committee Letter from the Bank of England to the Chair on the Green Finance inquiry, 1 February 2018
5 Mar 2018 To committee Letter from Guy Opperman to the Chair on the Green Finance inquiry, 15 February 2018