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Written Question
Financial Services: Carbon Emissions
Monday 25th March 2024

Asked by: Baroness Drake (Labour - Life peer)

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the role of the financial sector, including the pension sector, in decarbonising the UK economy while safeguarding investors' interests.

Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)

The Government recognises crucial role of the financial sector in decarbonising the economy, whilst safeguarding investors.

As set out in The Green Finance Strategy in March 2023, the Department of Work and Pensions have committed to hold a series of stakeholder roundtables on this matter, planned for this Spring.

The Financial Reporting Council have also committed to undertake a fundamental review of the UK Stewardship Code 2020.

Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 129 Labour Aye votes vs 1 Labour No votes
Vote Tally: Ayes - 263 Noes - 233
Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 125 Labour Aye votes vs 2 Labour No votes
Vote Tally: Ayes - 248 Noes - 209
Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 126 Labour Aye votes vs 1 Labour No votes
Vote Tally: Ayes - 276 Noes - 226
Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 129 Labour Aye votes vs 1 Labour No votes
Vote Tally: Ayes - 285 Noes - 230
Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 128 Labour Aye votes vs 1 Labour No votes
Vote Tally: Ayes - 271 Noes - 228
Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 124 Labour Aye votes vs 1 Labour No votes
Vote Tally: Ayes - 251 Noes - 214
Division Vote (Lords)
20 Mar 2024 - Safety of Rwanda (Asylum and Immigration) Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 126 Labour Aye votes vs 1 Labour No votes
Vote Tally: Ayes - 249 Noes - 219
Division Vote (Lords)
13 Mar 2024 - West Midlands Combined Authority (Transfer of Police and Crime Commissioner Functions) Order 2024 - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 84 Labour Aye votes vs 0 Labour No votes
Vote Tally: Ayes - 137 Noes - 54
Division Vote (Lords)
13 Mar 2024 - Digital Markets, Competition and Consumers Bill - View Vote Context
Baroness Drake (Lab) voted Aye - in line with the party majority and in line with the House
One of 96 Labour Aye votes vs 0 Labour No votes
Vote Tally: Ayes - 165 Noes - 154