Amendment 15

Financial Services and Markets Bill - Report (2nd Day) – in the House of Lords at 1:00 pm on 8 June 2023.

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Baroness Hayman:

Moved by Baroness Hayman

15: Clause 25, page 39, leave out lines 11 to 13 and insert—“(c) the need to contribute towards achieving compliance with sections 1 (the target for 2050) and 4(1)(b) (net UK carbon account) of the Climate Change Act 2008, and the conservation and enhancement of the natural environment, including compliance with relevant targets approved by Parliament, the Scottish Parliament, Senedd Cymru, and the Northern Ireland Assembly.”Member’s explanatory statementThis amendment adds nature to the new regulatory principle on net zero emissions.

Photo of Baroness Hayman Baroness Hayman Crossbench

My Lords, when we debated this on Tuesday evening I was greatly encouraged by the support from all sides of the House for adding nature, alongside net zero, to the regulatory principles in the Bill. We also had support externally, particularly from Professor Dasgupta himself. I am afraid that I did not find the Minister’s arguments compelling, and therefore I would like to test the opinion of the House.

Ayes 193, Noes 159.

Division number 1 Financial Services and Markets Bill - Report (2nd Day) — Amendment 15

Aye: 191 Members of the House of Lords

No: 157 Members of the House of Lords

Aye: A-Z by last name

Tellers

No: A-Z by last name

Tellers

Amendment 15 agreed.

Clause 26: Sections 24 and 25: consequential amendments