Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to Annex 2 of the Commission Delegated Regulation (EU) 2020/1816, whether Trident renewal is classified as a controversial weapon for the purposes of (a) environmental, social, and governance and (b) ethical investments.

The UK Benchmarks Regulation sets out the requirements for UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks. The Financial Conduct Authority (FCA) monitor and supervise benchmark administrators according to the Benchmarks Regulation to ensure that benchmarks are produced robustly and with due transparency. The FCA published a statement regarding their position on sustainability regulations and UK defence investment on 11 March 2025.

It is for benchmark administrators to decide if they wish to provide UK Climate Transition Benchmarks and UK Paris-aligned benchmarks under the Benchmarks Regulation, including by paying due regard to the relevant FCA guidance, and which companies to include in their benchmarks. It is then up to firms and investors to choose whether to use these benchmarks.

This Government does not see a conflict between sustainable investment and investment in our world-leading defence sector.