Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential benefits of a UK Green Taxonomy.

The value of a sustainable investment framework rests on its credibility as a practical and useful tool for corporates and investors. It is important that we learn from the approach taken in other jurisdictions and take the time to get this right for the UK and the market.

The Government intends to consider the recently published recommendations from the independent Green Technical Advisory Group and engage with the market later this year on the design of policies to help steer capital to where it is needed to support the UK’s net zero transition.

It is important to get this policy right for the UK. The UK Green Taxonomy Consultation is under review and the Government will be setting out next steps in due course.