Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help ensure regulatory co-operation with China does not impact on UK standards in financial supervision.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she has taken to ensure UK firms are impacted the designation of the Bank of China’s London Branch as the UK’s second renminbi clearing bank.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the outcomes of the UK-China Financial Working Group on UK-China trade flows.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the agreements from the first UK-China Financial Working Group in Beijing on UK financial services.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what mechanisms she will use to monitor the implementation of agreements reached on innovative biodiversity financing with China.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Lord Bishop of Norwich (Bishops - Bishops)
Question to the Department for Environment, Food and Rural Affairs:
To ask His Majesty's Government, following the report National security assessment on global ecosystems, published on 20 January, what plans they have to prioritise the protection and restoration of ecosystems, particularly those that support the UK food system.
Answered by Baroness Hayman of Ullock - Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
The UK is taking action to strengthen resilience to environmental risks at home and overseas, investing in forest and ocean protection and supporting the transition to more sustainable food and land use globally.
This includes strengthening supply chain resilience through the Critical Imports and Supply Chains Strategy and supporting sustainable agriculture globally through International Climate Finance (ICF) investments. The UK is on track to deliver £11.6 billion in ICF by the end of FY25/26, of which £3 billion should be Nature finance.
The Government has also recently published the revised Environmental Improvement Plan, which will help us to restore nature, improve environmental quality, and protect environmental security. Furthermore, our Food Strategy calls for action that will reduce the impact of our food system on the natural environment and build sustainability and resilience into our food supply chain. Together with our Farming Roadmap and Land Use Framework, we will enhance UK food security by protecting and stabilising food production and supply; and accelerate the green financial transition to drive economic growth at home and abroad.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to the British Embassy in Bangkok’s press release entitled UK PACT and Bangkok advancing sustainable transport, published on 30 January 2026, which Department's budget the funding for Thailand's transport and green finance will come from.
Answered by Seema Malhotra - Parliamentary Under-Secretary (Foreign, Commonwealth and Development Office)
The UK PACT Thailand programme is funded from the Foreign, Commonwealth and Development Office's (FCDO) and the Department for Energy Security and Net Zero's (DESNZ) Official Development Assistance (ODA) budget.
Further details of all FCDO and DESNZ funded programmes can be found at the Development Tracker website on GOV.UK. Proposed activities are assessed in advance for the impact they will have in meeting the UK's programme and partnership objectives in the country in question, and for their cost-effectiveness in achieving that impact. ODA programmes are evaluated on an ongoing basis for their performance against their agreed objectives, and for their delivery on time and on budget.
Asked by: Toby Perkins (Labour - Chesterfield)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what the five biggest allocations of funding for nature from International climate finance were in each year between 2021-22 and 2025-26.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
The five biggest allocations of funding for nature in each year between 2021-22 and 2024-25 are shown in the tables below, one for each financial year. 2025-26 figures are not yet available as accounts have not yet been finalised:
Programme Number | Programme title | Nature - FY21- 22 Spend |
ICF-0040-MFF (DESNZ) | Mobilising Finance for Forests | £51.1m |
ICF-0005-GCF (DESNZ) | Green Climate Fund (GCF) | £43.7m |
300856 (FCDO) | Green Climate Fund First Replenishment | £40.7m |
201724 (FCDO) | Forest Governance, Markets and Climate | £21.1m |
300057 (FCDO) | Global Environment Facility 7th replenishment | £15.0m |
Programme Number | Programme title | Nature - FY22-23 Spend |
300856 (FCDO) | Green Climate Fund First Replenishment | £109.6m |
ICF-0004-CIF (DESNZ) | New Climate Investment Funds (CIFs) BC - Nature Based Solutions | £65.0m |
301516 (FCDO) | UKSIP - The UK Sustainable Infrastructure Programme Latin America | £23.8m |
201724 (FCDO) | Forest Governance, Markets and Climate | £23.6m |
202745 (FCDO) | Investments in Forests and Sustainable Land Use | £21.5m |
Programme Number | Programme title | Nature - FY23-24 Spend |
300856 (FCDO) | Green Climate Fund First Replenishment | £163.6m |
ICF-0049-AF (DESNZ) | Amazon Fund (REDD+) | £54.6m |
301268 (FCDO) | Global Environment Facility 8th Replenishment | £53.8m |
ICF-0019-REM (DESNZ) | REDD Early Movers Programme (REM) | £30.0m |
ICF-0040-MFF (DESNZ) | Mobilising Finance for Forests | £27.5m |
Programme Number | Programme title | Nature - FY24-25 Spend |
ICF-0053-SCALE1 (DESNZ) | Scaling Climate Action by Lowering Emissions (SCALE) - Pillar One | £153.9m |
400173 (FCDO) | Green Climate Fund - 2nd replenishment | £90.8m |
300958 (FCDO) | IDA | £85.0m |
ICF-R&D (DESNZ) | BEIS Research & Development Climate Finance | £34.7m |
ICF-GCRF (DESNZ) | Ayrton Fund BEIS R&D: Global Challenges Research Fund (GCRF) | £32.4m |
Asked by: Lord Brady of Altrincham (Conservative - Life peer)
Question to the Foreign, Commonwealth & Development Office:
To ask His Majesty's Government what plans they have to set out in detail the Anti-Corruption Champion’s proposals concerning the development of tourism sectors in the British Overseas Territories; whether the territories were consulted before these recommendations were made or the related strategy launched; to what extent the success of such proposals depends on overseas territory participation; and whether His Majesty’s Treasury will provide financial or technical assistance to support their implementation.
Answered by Baroness Chapman of Darlington - Minister of State (Development)
The UK Government has regular discussions with the Overseas Territories (OTs) about ways in which they can strengthen and diversify their economies, attract increased investment, and improve transparency. The Anti-Corruption Champion's remarks on economic development, including opportunities in the tourism sector, are a welcome contribution to those discussions.
At the 2025 Joint Ministerial Council, we discussed with the OTs the infrastructure and credit finance offer from UK Export Finance (UKEF), and organised a business engagement session delivered with British Expertise International to enhance trade and investment links. We will continue to work in partnership with the OTs and consider requests for technical assistance, capacity building support, or, where eligible, financial instruments such as those available through UKEF. We remain committed to supporting the OTs in strengthening their economic resilience, and delivering sustainable long-term prosperity.
Asked by: Andrew Rosindell (Reform UK - Romford)
Question to the Foreign, Commonwealth & Development Office:
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether her Department is taking steps to help support the Turks and Caicos government with the procurement of outsourced professional services for the proposed expansion of the Providenciales International Airport.
Answered by Stephen Doughty - Minister of State (Foreign, Commonwealth and Development Office)
I refer the Hon Member to the answer I gave on 15 January in response to Question 104147.
The UK is committed to expanding economic cooperation with the Overseas Territories, recognising that sustainable economic prosperity is central to our shared future. The 2025 Joint Ministerial Council included discussions with UK Export Finance regarding their infrastructure offer and credit finance opportunities in the UK, as well as a business engagement session alongside UK companies with infrastructure expertise, including in relation to airports. FCDO officials will continue to engage with their Turks and Caicos Island counterparts to understand their specific needs and plans.