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Select Committee · Treasury Committee

Decarbonisation and Green Finance

Status: Closed Opened: 3 Mar 2020 Closed: 20 Jan 2022 21 recommendations 3 conclusions 1 report

The Treasury Committee has re-launched an inquiry into the decarbonisation of the UK economy and green finance. This inquiry will scrutinise the role of HM Treasury, regulators and financial services firms in supporting the Government’s climate change commitments. It will also examine the economic potential of decarbonisation for the UK economy in terms of job … Show more

Clear

Reports

1 report
Title HC No. Published Items Response
Thirteenth Report - Net zero and the Future of Green Finance HC 147 22 Apr 2021 24 Responded

Recommendations & Conclusions

3 items
19 Recommendation Thirteenth Report - Net zero and the Fu… Deferred

The Government’s Green Finance Strategy noted the need for innovation in green finance products and...

The Government’s Green Finance Strategy noted the need for innovation in green finance products and services, yet the evidence we have received suggests that the pace of innovation could be accelerated and that more could be done to encourage take-up. The Financial Conduct Authority should seriously consider undertaking further “green … Read more

Government response AI summary
The government redirected the committee to the FCA's response for information on encouraging innovation in green finance products and tackling regulatory barriers.
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HM Treasury
20 Recommendation Thirteenth Report - Net zero and the Fu… Deferred

The Prudential Regulation Authority and Financial Conduct Authority should move quickly to incorporate their revised...

The Prudential Regulation Authority and Financial Conduct Authority should move quickly to incorporate their revised remits to include climate change. We will continue to monitor their progress and ongoing approach to the risks arising from climate change. Read more

Government response AI summary
The government redirects the committee to the responses from the Financial Conduct Authority and the Bank of England for further information on this matter.
Read full response →
HM Treasury
21 Recommendation Thirteenth Report - Net zero and the Fu… Deferred

We have heard differing evidence on whether there should be amendments to the capital regimes...

We have heard differing evidence on whether there should be amendments to the capital regimes to promote net zero. In light of its new remit letter, the Bank of England must now explain its thinking, as to what measures it might consider appropriate for the capital regime to better accommodate … Read more

Government response AI summary
The government redirected the committee to the Bank of England's response for information on measures for the capital regime to accommodate climate risk.
Read full response →
HM Treasury

Correspondence

10 letters
DateDirectionTitle
7 Jan 2021 To cttee Letter from Economic Secretary relating to Decarbonisation and Green Finance, d…
15 Dec 2020 To cttee Letter from the Exchequer Secretary relating to the Committee session on 16 Nov…
10 Dec 2020 To cttee Letter from Director General Association of British Insurers relating to Decarb…
26 Nov 2020 To cttee Letter from the Co-Chair of the Association of Member Nominated Trustees relati…
4 Nov 2020 To cttee Letter from Sarah Breeden, Executive Director, Prudential Regulation Authority,…
1 Oct 2020 To cttee Letter from Chris Cummings, Chief Executive, the Investment Association, relati…
11 Mar 2020 To cttee Letter from Chair to Governor regarding Climate Risk 20200203
11 Mar 2020 To cttee Letter from Chair to FCA CEO Andrew Bailey regarding Climate Risk 20200203
11 Mar 2020 — Governor to Chair letter regarding Climate Risk
10 Mar 2020 From cttee AJB CEO of FCA letter to Chair regarding Climate Risk