Decarbonisation and Green Finance

Treasury Committee Closed Inquiry
Opened: 3 Mar 2020 Closed: 20 Jan 2022 Parliament page
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 … Read more
21 Recommendations
3 Conclusions
1 Report
10 Letters
5 Events
Activity timeline 12 events
16 Jul
2021
Report published
22 Apr
2021
Report published
7 Jan
2021
Correspondence
15 Dec
2020
Correspondence
10 Dec
2020
Correspondence
26 Nov
2020
Correspondence
4 Nov
2020
Correspondence
1 Oct
2020
Correspondence
11 Mar
2020
Correspondence
11 Mar
2020
Correspondence
11 Mar
2020
Correspondence
10 Mar
2020
Correspondence
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 results
Clear
2 Recommendation Acknowledged
Thirteenth Report - Net zero and t…
The Government has made bold claims that the economic recovery will be a green recovery.
The Government has made bold claims that the economic recovery will be a green recovery. In order to achieve that, the Government needs to set out in its Net Zero Strategy who, at ministerial level, will be responsible for delivering … Read more
Government Response
The government states the Net Zero Strategy will set out its vision for transitioning to a net zero economy, and lead delivery departments are responsible for sectoral strategies, but it does not specify who at ministerial level will be responsible or how coordination will be ensured.
HM Treasury
View details
9 Conclusion Acknowledged
Thirteenth Report - Net zero and t…
We note the new remit provided to the Monetary Policy Committee, which will allow it...
We note the new remit provided to the Monetary Policy Committee, which will allow it to rebalance its Corporate Bond Purchase Scheme to take account of the climate impact of the bonds it holds. We will continue to scrutinise this … Read more
Government Response
The government clarified that the MPC's primary objective is price stability, and its secondary objective, updated to include environmental sustainability, leaves it to the Bank of England to determine how to support these goals.
HM Treasury
View details
11 Recommendation Acknowledged
Thirteenth Report - Net zero and t…
The Treasury should, as part of its review of Solvency II, consider reforms that could...
The Treasury should, as part of its review of Solvency II, consider reforms that could improve the funding of sustainable green infrastructure while maintaining the financial stability of insurers.
Government Response
The government agrees with the recommendation and states it wants a more proportionate and flexible regulatory regime. It notes that it has published a response to its Call for Evidence on Solvency II setting out next steps for the insurance sector.
HM Treasury
View details
Government Response AI assessment · 24 of 21 classified
Accepted 13
Accepted in Part 1
Acknowledged 3
Deferred 3
Not Addressed 4
Total 21 recs + 3 conclusions
Correspondence 10 letters
7 Jan 2021 To committee Letter from Economic Secretary relating to Decarbonisation and Green Finance, dated 16 December 2020
Parliament page
15 Dec 2020 To committee Letter from the Exchequer Secretary relating to the Committee session on 16 November, dated 23 November 2020
Parliament page
10 Dec 2020 To committee Letter from Director General Association of British Insurers relating to Decarbonisation inquiry, dated 23 November 2020
Parliament page
26 Nov 2020 To committee Letter from the Co-Chair of the Association of Member Nominated Trustees relating to Inquiry into decarbonisation and green finance, dated 28 October 2020
Parliament page
4 Nov 2020 To committee Letter from Sarah Breeden, Executive Director, Prudential Regulation Authority, following the evidence session on 30 September 2020, dated 19 October 2020
Parliament page
1 Oct 2020 To committee Letter from Chris Cummings, Chief Executive, the Investment Association, relating to the Committee's evidence session on 3 September, dated 24 September
Parliament page
11 Mar 2020 To committee Letter from Chair to Governor regarding Climate Risk 20200203
Parliament page
11 Mar 2020 To committee Letter from Chair to FCA CEO Andrew Bailey regarding Climate Risk 20200203
Parliament page
11 Mar 2020 Governor to Chair letter regarding Climate Risk
Parliament page
10 Mar 2020 From committee AJB CEO of FCA letter to Chair regarding Climate Risk
Parliament page