Robert Largan
Main Page: Robert Largan (Conservative - High Peak)Department Debates - View all Robert Largan's debates with the HM Treasury
Future of Financial Services
Robert Largan Excerpts(4 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Rishi Sunak
The hon. Gentleman asks about bold action on green measures. I have announced today that we will be the first major economy in the world to mandate the recommendations of the Task Force on Climate-Related Financial Disclosures, doing so across the economy by 2025. That demonstrates both boldness and leadership on this vital issue.
Robert Largan (High Peak) (Con)
Financial services are worth over £130 billion to the UK economy and support over 1 million jobs, two thirds of which are outside London, so I wholeheartedly welcome this statement. I also welcome the announcement on the sovereign green bonds. Can the Chancellor confirm that those bonds will fund crucial projects to tackle climate change, such as the restoration of the moorlands in the Peak district and vital infrastructure investment to improve public transport across the north of England?
Rishi Sunak
My hon. Friend is absolutely right. The transition to net zero will require enormous sums of capital to help finance it. Along with all the other market developments that it will catalyse, this bond will ensure that we can attract that capital into the UK to build the infrastructure we need.