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Financial Services

Question for Treasury

UIN HL14992, tabled on 16 April 2021

To ask Her Majesty's Government, further to the statement by Lord Agnew of Oulton on 11 November 2020 (HL Deb, cols 1115–28) on the future of financial services, what plans they have to consult industry and other interested parties on the technical screening criteria for the UK’s ‘green taxonomy.’

Answered on

28 April 2021

The Government has announced that it will be launching a Green Technical Advisory Group to provide independent advice on how to effectively implement a Green Taxonomy in the UK. This group will be made up of experts drawn from taxonomy users, academia, science, and NGOs. The Green Finance Institute will act as the secretariat for this group. As a first step, the GFI will provide independent advice, in consultation with industry, on the group’s membership and its work plan. we will provide more details on this in due course.

The Government is required to make Technical Screening Criteria (TSC) for climate change mitigation, and climate change adaptation no later than 1 January 2023. These TSC will be subject to appropriate, open consultation prior to making.

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