On 5 June 2019, the House of Commons’ Treasury Committee announced that it was launching an inquiry into the decarbonisation of the UK economy and green finance. The inquiry will scrutinise the role of HM Treasury, regulators and financial services firms in supporting the Government’s climate change commitments. It will also examine the economic potential of decarbonisation for the UK economy in terms of job creation and growth.
The inquiry will cover:
- the economic opportunity that decarbonisation presents for the UK, and the potential of the green finance sector;
- HMT’s strategy in facilitating clean growth and its response to the Committee on Climate Change’s net-zero recommendations;
- the role of the Spending Review in facilitating net-zero;
- the role that financial services firms are currently playing in financing the transition; and
- the ‘green’ financial product landscape and their associated regulatory environment.
The deadline for written responses to the inquiry is 26 July 2019. The full terms of reference can be found here.