Question to the Department for Business and Trade:

To ask His Majesty's Government what steps they plan to take to ensure that business shareholder and pension investments are made in ways that support the environment; and what plans they have to amend section 172 of the Companies Act 2006 to set requirements in this regard.

In October 2021, the Government published the Greening Finance Roadmap, which set out its intention to deliver new Sustainability Disclosures Requirements for companies, pension schemes and the financial services industry. These requirements will ensure that investment decisions take better account of sustainability matters. Section 172 of the Companies Act 2006 already requires directors to have regard to the environment (among other matters), and directors of large companies must make an annual statement on how they are meeting their Section 172 duty.