Asked by: Barry Gardiner (Labour - Brent West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions she has had with the Financial Conduct Authority on strengthening climate-related disclosure requirements within IPO documentation for fossil fuel companies.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Last year, the Financial Conduct Authority (FCA) delivered an ambitious modernisation of the UK’s listing rules, to bring the UK in line with international best practice. From 19 January 2026, the UK’s new Prospectus regime will cut the paperwork firms need to produce when they IPO and raise capital, while providing better, more relevant information to investors.
The government’s work to finalise the UK Sustainability Reporting Standards (UK SRS) is a core part of the government’s ambition to make the UK a global hub for green and transition finance activity. These standards are based on the interoperable standards published by the International Sustainability Standards Board in June 2023 and aim to support long-term investor decision making by providing high quality and comparable information and on sustainability-related risks and opportunities that businesses face.
The government consultation on UK SRS closed on 17 September. The government is currently processing feedback and will publish its response in due course along with the final set of standards for voluntary use. Separately, the Financial Conduct Authority (FCA) has announced that they will be consulting soon on how UK SRS is applied to publicly listed companies.
Asked by: Barry Gardiner (Labour - Brent West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that the new UK listing regime is aligned with climate and net zero policies, while maintaining investor protection and market integrity.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Last year, the Financial Conduct Authority (FCA) delivered an ambitious modernisation of the UK’s listing rules, to bring the UK in line with international best practice. From 19 January 2026, the UK’s new Prospectus regime will cut the paperwork firms need to produce when they IPO and raise capital, while providing better, more relevant information to investors.
The government’s work to finalise the UK Sustainability Reporting Standards (UK SRS) is a core part of the government’s ambition to make the UK a global hub for green and transition finance activity. These standards are based on the interoperable standards published by the International Sustainability Standards Board in June 2023 and aim to support long-term investor decision making by providing high quality and comparable information and on sustainability-related risks and opportunities that businesses face.
The government consultation on UK SRS closed on 17 September. The government is currently processing feedback and will publish its response in due course along with the final set of standards for voluntary use. Separately, the Financial Conduct Authority (FCA) has announced that they will be consulting soon on how UK SRS is applied to publicly listed companies.
Asked by: Barry Gardiner (Labour - Brent West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that the UK listings requirements for fossil fuel companies are consistent with (a) the Supreme Court ruling in Finch v Surrey County Council and (b) the International Court of Justice’s Advisory Opinion, which both require Scope 3 emissions to be included in project Environmental Impact Assessments.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Last year, the Financial Conduct Authority (FCA) delivered an ambitious modernisation of the UK’s listing rules, to bring the UK in line with international best practice. From 19 January 2026, the UK’s new Prospectus regime will cut the paperwork firms need to produce when they IPO and raise capital, while providing better, more relevant information to investors.
The government’s work to finalise the UK Sustainability Reporting Standards (UK SRS) is a core part of the government’s ambition to make the UK a global hub for green and transition finance activity. These standards are based on the interoperable standards published by the International Sustainability Standards Board in June 2023 and aim to support long-term investor decision making by providing high quality and comparable information and on sustainability-related risks and opportunities that businesses face.
The government consultation on UK SRS closed on 17 September. The government is currently processing feedback and will publish its response in due course along with the final set of standards for voluntary use. Separately, the Financial Conduct Authority (FCA) has announced that they will be consulting soon on how UK SRS is applied to publicly listed companies.
Asked by: Barry Gardiner (Labour - Brent West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what information his Department holds on the number of private business flights that departed from all UK airports and airfields per Air Passenger Duty band in 2022.
Answered by Gareth Davies - Shadow Minister (Business and Trade)
Information regarding private business flights, airports and airfields is not available, however, the data used in the Air Passenger Duty (APD) publication provides a breakdown of historical receipts, chargeable passengers and liabilities for all APD passenger bands.
APD receipts for each band of air passenger duty in January to May 2022 can be found in the Air Passenger Duty Statistics tables, on the APD Bulletin landing page.
Data from June to December 2022 will be published in the upcoming June 2023 APD bulletin release.
Asked by: Barry Gardiner (Labour - Brent West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much revenue was raised from private business flights through Air Passenger Duty in 2022 per band of Air Passenger Duty.
Answered by Gareth Davies - Shadow Minister (Business and Trade)
Information regarding private business flights, airports and airfields is not available, however, the data used in the Air Passenger Duty (APD) publication provides a breakdown of historical receipts, chargeable passengers and liabilities for all APD passenger bands.
APD receipts for each band of air passenger duty in January to May 2022 can be found in the Air Passenger Duty Statistics tables, on the APD Bulletin landing page.
Data from June to December 2022 will be published in the upcoming June 2023 APD bulletin release.