Financial Services

Treasury written question – answered on 17th June 2019.

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Photo of David Drew David Drew Shadow Minister (Environment, Food and Rural Affairs)

To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policy of the recommendations of the First Comprehensive Report by the Network for Greening the Financial System, co-authored by the Bank of England, published on 17 April 2019.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The government welcomes the report from the Network for Greening the Financial System and recognises that climate change is a source of financial risks. The government will publish a Green Finance Strategy this year that will set-out its approach to greening financial systems. The government has considered recommendations from the report as part of this process and is working closely with the Bank of England and the Financial Conduct Authority.

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