Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how the UK Green Taxonomy will operate with other countries’ green taxonomies; and if he will take steps with his international counterparts to implement internationally interoperable green taxonomies.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report entitled the UK Green Taxonomy, published by the APPG on Environmental, Social, and Governance, what discussions he has had with the Secretary of State for Foreign, Commonwealth and Development Affairs on the potential impact of developing a UK Green Taxonomy on steps being taken by other nations to implement similar frameworks.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will hold discussions with the Secretary of State for Business, Energy and Industrial Strategy on the extent to which UK companies’ activities will be aligned to the UK Green Taxonomy as set out in the White Paper on Greening Finance published on 18 October 2021.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report on the UK Green Taxonomy published by the APPG on Environmental, Social, and Governance on 1 December 2022, what plans his Department has to publish a first set of Technical Screening Criteria for the UK Green Taxonomy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by the All-Party Parliamentary Group on Environmental, Social, and Governance entitled The UK Green Taxonomy, published in November 2022, if he will take steps to publish a consultation on the UK Green Taxonomy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report entitled the UK Green Taxonomy, published by the APPG on Environmental, Social, and Governance, if he will make it his priority to develop the UK Green Taxonomy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by the All-Party Parliamentary Group on Environmental, Social, and Governance entitled The UK Green Taxonomy, published in November 2022, whether his Department has made an assessment of the potential merits of both a transitional taxonomy and a UK Green Taxonomy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by the All-Party Parliamentary Group on Environmental, Social, and Governance entitled The UK Green Taxonomy, published in November 2022, whether his Department has had recent discussions with the Green Technical Advisory Group on the UK Green Taxonomy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report entitled the UK Green Taxonomy, published by the APPG on Environmental, Social, and Governance, if his Department will publish an updated timeline for the development of the UK Green Taxonomy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report entitled the UK Green Taxonomy, published by the APPG on Environmental, Social, and Governance, if the UK Green Taxonomy will be science-based.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK is a leading centre for green finance, with London having been ranked first in the world for a third year, according to the Global Green Finance Index. It is important that our approach for the taxonomy builds on this and contributes to our ambition to be the world’s first net zero-aligned financial centre.
The value of a taxonomy rests on its credibility as a practical and useful tool for corporates and investors, that its users recognise as science-based. 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 UK Green Taxonomy Consultation is under review and the government will be setting out next steps in due course.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.
The Government has also been supporting the development of international standards in green finance, for example through the International Sustainability Standards Board.