Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with his G7 counterparts on prioritising environmental issues in the global economic recovery from the covid-19 pandemic.

The Chancellor met his G7 Finance Minister counterparts for the first in-person Finance Track meeting in two years on 4-5 June 2021. Climate and environmental issues have been at the heart of the Chancellor’s discussions with his G7 counterparts, paving the way to a truly green global economic recovery.

As a result result, G7 Finance Ministers have commited to a multi-year effort to meet our net zero commitments and environmental objectives in a way that is positive for jobs, growth, competitiveness and fairness; and to properly embed climate change and biodiversity loss considerations into economic and financial decision-making.

As part of this joint effort, the Chancellor secured G7 commitment to move towards mandatory climate disclosures just six months after the UK was the first country to commit to do so. This will help to ensure the global financial system plays its part in the transition to net zero.