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Andrew Selous

South West Bedfordshire

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Green Finance

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I am strongly encouraged by the Government’s vision for the future of Britain's financial services sector shaped around four key themes, including the determination to make the UK a world-leader in green finance.

I also welcome the new environmental sustainability and net zero remits which have been granted to the Bank of England's Monetary Policy Committee and Financial Policy Committee. I believe that the amended objectives, which emphasise sustainable growth consistent with the transition to a net zero economy, will be essential in helping mobilise innovation and finance in the protection of our environment and fight against climate change.

The UK recently issued the UK’s first ever Sovereign Green Bond, becoming the first country in the world to make Taskforce on Climate-Related Disclosures mandatory by 2023. I was excited to see the Chancellor unveil a roadmap for sustainable investing which includes details on Sustainability Disclosure Requirements and a new UK Green Taxonomy which will create a shared understanding of which economic activities are classed as green.

I am proud that the UK has also used its chair of the G7 to broker an agreement to move towards making climate disclosures mandatory across their respective economies.

The Government has also announced its intention to enable the new UK Infrastructure Bank (UKIB) to provide financing for strategic and high value net zero projects and crowding in private sector investment for such projects. The UKIB will also build an expert advisory service to assist local authorities with the development and financing of green infrastructure.

I also welcomed the intention to make the UK the world’s first Net Zero-aligned Financial Centre, requiring UK financial institutions to have firm-level transition plans setting out how they will decarbonise, coupled with strong oversight of the financial sector to ensure financial flows actually shift towards supporting net zero. I understand that the UK will move towards making publication of transition plans mandatory and that the Government will set up a high-level Transition Plan Taskforce. A transition pathway for the financial sector will set out how the sector will transition to net zero by 2050.

Moreover, the International Financial Reporting Standards (IFRS) Foundation has announced the establishment of an International Sustainability Standards Board (ISSB). The IFRS Foundation will thereby consolidate the Value Reporting Foundation and the Climate Disclosure Standards Board to develop comprehensive global baseline sustainability reporting standards with public oversight.

The IFRS Foundation has published two prototype standards to build on existing frameworks, including the Task Force on Climate-Related Financial Disclosures (TCFD), when developing new standards. These standards will be subject to full public consultation, can be considered for adoption by jurisdictions on a voluntary basis, and jurisdictions will have their own legal frameworks for adopting, applying or otherwise making use of these international standards.

Finance Ministers and Central Bank Governors from 40 jurisdictions and from 6 continents joined the UK in welcoming this announcement of the establishment of the ISSB and its work to develop consistent and reliable baseline standards for disclosure of sustainability-related information.

Finally, please be assured that I know that my colleagues at the Treasury are committed to ensuring that the financial system plays a major role in the delivery of the UK’s net zero target and ambitions for a ‘nature positive’ future at home and abroad.

Campaign Responses

  • Access to Waterways
  • Adult Dependant Relative Visa
  • Adult Social Care
  • Afghanistan and Pakistan
  • Afghanistan: Nowzad
  • Afghanistan Refugees
  • Afghanistan Refugees (Christians)
  • Afghanistan Withdrawal
  • Age UK's Winter Warmth Campaign
  • Air Passenger Duty
  • Air Quality
  • Alcohol Duty
  • All-Party Parliamentary Groups (APPGs)
  • Animal Research
  • Animal Testing - Dogs
  • Animal Welfare Legislation
  • Animal Welfare (Kept Animals) Bill
  • Animal Welfare (Kept Animals) Bill: Cats
  • Animal Welfare (Kept Animals) Bill: Dogs
  • Animal Welfare (Sentience) Bill
  • Arms Exports
  • Arms Exports: Israel
  • Arthritis
  • ASRU Change Programme
  • Assisted Suicide
  • Asylum Support and Employment
  • Aviation Industry Concerns
  • Badgers and Bovine TB
  • BBC Funding
  • BBC World Service
  • Behaviour in Schools
  • Bite Back Better Campaign
  • Bomb Disposal and Whales
  • Bowel Cancer Awareness Month
  • Boycotts, Divestment and Sanctions
  • Breast Cancer
  • Building Safety Bill
  • Bus Deregulation
  • Business and Human Rights
  • Campaign - #CatchUpWithCancer
  • Cancer Research
  • Cancer Treatment
  • Carers and Unpaid Carers
  • Cash Availability and Acceptance
  • Channel 4
  • Child Deaths Worldwide
  • Child Maintenance Service (CMS)’s Collect and Pay Service
  • Child Poverty
  • Children with Sight Loss (Education)
  • Climate and Ecological Emergency Bill
  • Climate Change
  • Commercial Energy Prices
  • Consular Services in Afghanistan
  • Conversion Therapy
  • COP26
  • COP26 Commitments (100 Days)
  • Coronavirus: Clinically Extremely Vulnerable
  • Coronavirus: Coronavirus Act
  • Coronavirus: Face Coverings
  • Coronavirus: Face Coverings in School
  • Coronavirus: Hospitality Support
  • Coronavirus: International Travel
  • Coronavirus: Mandatory Vaccination
  • Coronavirus: NHS and Social Care Staff (Vaccines)
  • Coronavirus: Provision of Tests
  • Coronavirus: Regulations and Living with COVID
  • Coronavirus: Self Isolation
  • Coronavirus: Support for the Self-Employed
  • Coronavirus: Testing (Childminders)
  • Coronavirus: Travel Industry Support
  • Coronavirus: Vaccines (Developing Countries)
  • Coronavirus: Vaccine Passports
  • Coronavirus: VAT Threshold
  • Cost of Living
  • Courier Employment Rights
  • Dangerous Dogs Act
  • Deaths Related to the Benefits System
  • Defibrillators and the Automated External Defibrillators (Public Access) Bill
  • Dementia Research and Diagnosis
  • Democratic Freedoms in the UK
  • Derby County Football Club
  • Diabetes
  • Disability Benefit Assessments
  • Domestic Abuse (Serial Abusers & Stalkers)
  • Domestic Abuse (Time Limits)
  • Dr Liam Fox’s Down Syndrome Bill
  • Early Years Funding
  • Education and Development Globally
  • Elections Act
  • Elections Act - Blind and Partially Sighted Voters
  • Elections Act - Electoral Commission
  • Elections Act - First Past the Post
  • Elections Act - Joint Campaigning
  • Electronic Communications Code
  • Elephants and Ivory Sales
  • End Child Poverty Coalition
  • Endometriosis and Polycystic Ovary Syndrome (PCOS)
  • Energy Price Cap
  • Energy Security Strategy
  • Environment Bill
  • Epilepsy
  • Epilepsy: Personal Independence Payment (PIP)
  • Fairtrade Fortnight Campaign
  • Fire and Rehire Tactics
  • Fireworks
  • Football Governance
  • Football Index
  • Fracking
  • Free Trade Agreement with Australia
  • Fuel Duty and Prices
  • Fuel Shortages
  • Fur and Foie Gras
  • Future of the TV Licence
  • Gambling with Credit Cards
  • Gambling Regulation
  • Gas Boilers
  • Glue Traps
  • Good Law Project & Runnymede: Mike Coupe & Dido Harding
  • Government Contracts
  • Green Alternatives to Gas Boilers
  • Green Finance
  • Green Investment - 2021 Spending Review
  • Green New Deal
  • Guidance on Boycotts (Stop BDS)
  • Hamas
  • Hate Crime (Misogyny)
  • Health and Care Bill
  • Health and Care Bill: Integrated Care Boards and Private Sector Providers
  • Health and Care Bill: Privatisation
  • Health and Care Bill: Workforce
  • Health and Disability Green Paper
  • Heat Pumps
  • Hedgehogs
  • Hedgerows
  • HGV Driver Shortage
  • HIV and AIDS
  • Holiday Lets
  • Housing and the Queen’s Speech
  • Housing Emergency (Shelter)
  • Housing First
  • HS2 and the Environment
  • HS2: Cost Transparency
  • HS2: General
  • Human Rights Act
  • Hunting Act 2004
  • Illegal Immigration (Nationality and Borders Bill)
  • Improving Access to the Countryside
  • Intellectual Property
  • Interest on Student Loans
  • Internet Regulation
  • Islamophobia
  • Israel: Amnesty International
  • Ivory Sales
  • Judicial Review
  • Keeping Primates as Pets
  • TV Licence Fee
  • Live Animal Exports
  • Living Wage and Key Workers
  • Loan Charge
  • Local Electricity Bill
  • Maternity Services
  • Meadows and Grasslands
  • Medicinal Cannabis
  • Menopause
  • Mental Health
  • Mental Health Facilities
  • Mental Health Hubs (Children and Young People)
  • Midwifery Units
  • Migrant Channel Crossings
  • Modern Slavery
  • Motor Neurone Disease
  • Multiple Sclerosis
  • National Insurance Contributions
  • Nationality and Borders Act (Accommodation for Asylum Seekers)
  • Nationality and Borders Act (Asylum and Refugees)
  • Nationality and Borders Act (Clause 9)
  • Nationality and Borders Act (Clause 11)
  • Nationality and Borders Act (Overseas Asylum Processing)
  • Nationality and Borders Act (Unaccompanied Children)
  • Nazanin Zaghari-Ratcliffe
  • Neonicotinoids
  • New Plan for Immigration
  • NHS Pay
  • NHS Preparations for Winter
  • NHS Privatisation
  • Nigeria: Mubarak Bala
  • Offshore Wind
  • Oil Drilling and Cambo Oil Field
  • Online Marketplaces (Regulation)
  • Online Safety Bill (Internet Regulation)
  • Online Safety Bill (Misinformation)
  • Online Safety Bill (Pornography)
  • Online Safety Bill (Private Communications)
  • Online Safety Bill (Protecting Children from Online Porn)
  • Online Safety Bill (Suicide and Self-Harm)
  • Online Safety Bill (Women and Girls)
  • Onshore Wind
  • Onshore Wind (Planning)
  • Palestinian Human Right Defenders
  • Palliative Care
  • Pancreatic Cancer
  • Parental Bereavement
  • Parkinson's Disease
  • Pavement Parking
  • Peat
  • Plastic Pollution
  • Police and Sarah Everard Case
  • Police, Crime, Sentencing and Courts Bill
  • Police, Crime, Sentencing and Courts Bill (Climate Protesters)
  • Police, Crime, Sentencing and Courts Bill (Courts and Tribunals)
  • Police, Crime, Sentencing and Courts Bill (Data Extraction)
  • Police, Crime, Sentencing and Courts Bill (Parliament Square)
  • Police, Crime, Sentencing and Courts Bill (Protection of Retail Workers)
  • Police, Crime, Sentencing and Courts Bill (Protests)
  • Police, Crime, Sentencing and Courts Bill (Protests and Noise)
  • Police, Crime, Sentencing and Courts Bill (Protests Tactics)
  • Police, Crime, Sentencing and Courts Bill (Unauthorised Encampments)
  • Polluter Pays Bill
  • Prescription Charges
  • Prisons (Violence) Bill
  • Private Rented Sector
  • Processing Asylum Claims in Rwanda
  • Proportional Property Tax
  • Prostate Cancer
  • Protection of Pollinators
  • Public Inquiry on COVID-19
  • Public Sector Pensions
  • Public Service Pensions and Judicial Offices Bill
  • Puppy and Kitten Sales
  • Radiotherapy
  • Rail Vs Air Travel
  • Reforming Taxi and Private Hire Vehicle Licensing
  • Right to Work Checks
  • Royal Mail
  • Sarcoma UK Drop-In Session
  • Save Our Pubs (CAMRA)
  • SEND Funding
  • Sentencing (Dangerous Driving)
  • Sexual Harassment
  • Shared Parental Leave
  • Social Care Cap (Means Test)
  • Stamp Duty Land Tax
  • State Pension
  • State Pension Age
  • Statutory Sick Pay
  • Stop and Search
  • Support for Deaf Pupils
  • Support for People with Disabilities
  • Support for Renters
  • Support for Road Hauliers
  • Support for the Pig Industry
  • Support for the Travel Industry
  • Sustainable Fishing
  • Tax Avoidance
  • Teachers’ Pay
  • Tourism and VAT
  • Training Collars for Dogs
  • Transport for Disabled People
  • Trophy Hunting
  • UK Foreign Aid
  • UK Trade and Business Commission’s First Annual Report
  • Universal Credit and Working Tax Credits - £20 per Week Uplift
  • Universal Credit Standard Allowance for Those Under 25
  • Universities: Antisemitism (IHRA Definition)
  • Uplands
  • Vaccinations for COVID-19
  • Valerie's Law
  • Vaping
  • VAT on Electric Vehicle Charging in Public Places
  • Violence Against Women and Girls
  • Voter ID
  • Voting System
  • Water Fluoridation
  • Wealth Tax
  • Welfare of Farm Animals
  • Young People’s Wellbeing

Andrew Selous MP South West Bedfordshire

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