Philip Dunne
Main Page: Philip Dunne (Conservative - Ludlow)Department Debates - View all Philip Dunne's debates with the Cabinet Office
(3 years ago)
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Alok Sharma
As someone who was partly responsible for preparing the 10-point plan, may I suggest that the hon. Gentleman actually reads the detail of it? I have discussed the sector-specific points in it with individuals in different sectors of industry, who have found it quite compelling. Of course I agree that we need to be doing more, and that is why I have committed to publishing the comprehensive net zero strategy ahead of COP26.
Philip Dunne (Ludlow) (Con) [V]
What steps is my right hon. Friend taking, in his extensive discussions with leaders around the world on making progress at COP26, to develop a global standard or taxonomy of climate change impact in financial reporting and in green labelling investment products?
Alok Sharma
As my right hon. Friend will know, the UK has taken a leading role in climate-related disclosures by implementing a green taxonomy and, very importantly, by making TCFD-aligned disclosures—recommended by the Taskforce on Climate-related Financial Disclosures —mandatory across the economy by 2025. In the conversations that I have with Governments around the world, I am urging other countries to follow a similar approach on financial disclosures. My right hon. Friend talks about asset owners in the financial services sector, and we are also encouraging asset owners and asset managers to make net zero commitments.