Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what discussions his Department has had with other government departments on building greater consideration and transparency of climate risk for pension funds into Articles 20, 26 and 32 of the EU's revised Directive on Institutions for Occupational Retirement Provision.

The Government’s priority for the draft Directive is ensuring sound and proportionate regulation of occupational pension schemes, which respects differences in the national arrangements between Member States.

As is usual practice, an overall impact assessment for the draft Directive has been prepared by the EU institutions, and a national-level impact assessment will be prepared as and when the Directive is transposed into UK law.

The Government has approached negotiations on the Directive in line with the usual co-ordination process across departments.