Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her Department's policies of the report by ActionAid UK entitled Who Pays the Price?, published in April 2025.

The government is restoring the global leadership needed to tackle the climate and nature crisis, and aiming to make Britain a clean energy superpower with zero carbon electricity by 2030.

At COP 29, the Prime Minister announced the UK’s ambitious and credible Nationally Determined Contribution target to reduce all greenhouse gas emissions by at least 81% by 2035 compared to 1990 levels, excluding international aviation and shipping emissions. We must unlock a much greater scale of climate and nature finance to support developing countries’ energy transitions and those most vulnerable to climate change and nature degradation.

While the UK government does not set out what private companies, including banks, should invest in, we are supportive of the standards published by the International Sustainability Standards Board (ISSB) in June 2023 and are consulting on the UK version of these standards, UK Sustainability Reporting Standards. These aim to support long-term, sustainable decision-making by the business and investment community by providing high-quality information about the sustainability-related risks and opportunities that businesses face.