Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to Greening Finance Roadmap, published in October 2021, what assessment he has made of the case for implementing the Sustainability Disclosure Requirements before the suggested three to five year timeline; and if he will make a statement.

The document ‘Greening Finance: A Roadmap to Sustainable Investing’ sets out an indicative pathway to introducing coordinated Sustainability Disclosure Requirements (SDR) across the economy. SDR builds on the UK’s ambitious leadership on green finance and will incorporate the UK’s existing commitment to make reporting aligned with the Taskforce on Climate Related Financial Disclosure (TCFD) mandatory, require robust reporting against the UK Green Taxonomy, and aim to incorporate international standards as they are developed.

The implementation of legislative and regulatory measures will be subject to parliamentary review and to consultation, ensuring effective scrutiny over the requirements that are introduced. Detailed disclosure requirements will be determined by the relevant regulators and government departments following consultation, and anticipated timings are set out in the Roadmap.