COP 26 - Question

Part of the debate – in the House of Lords at 12:26 pm on 25 May 2021.

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Photo of Lord Goldsmith of Richmond Park Lord Goldsmith of Richmond Park The Minister of State, Department for Environment, Food and Rural Affairs, Minister of State (Foreign, Commonwealth and Development Office) 12:26, 25 May 2021

My Lords, no, I have not seen that report, but I will, of course, look it up. I am not surprised by this, given the size and importance of London with respect to its financial sector. As a Government, we are supporting a crucially important new initiative called the TNFD—the Taskforce on Nature-related Financial Disclosure—which aims to do what has been achieved in relation to carbon disclosure and make sure that, between those two initiatives, businesses are able to identify and avoid exposure to the risks of both climate change and nature destruction. We feel that this initiative has the capacity to shift the dynamic in the financial sector and we are supporting it in every way we possibly can.