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1327855

	registered interest
	date	25/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Greenhouse Gas Emissions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the global emissions footprint of the UK financial sector.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	7234
	answer	answer is ministerial correction date of answer 28/05/2021 answer text <p>The UK follows the agreed international approach for estimating and reporting greenhouse gas emissions under the UN Framework Convention on Climate Change (UNFCCC), which is for countries to report emissions produced within their territories. All UK domestic and international GHG emissions reductions targets, including our Net Zero commitment, are based on these territorial emissions.</p><p> </p><p>The UK was the first major economy to commit to Net Zero by 2050, and to achieve that ambition, we want to ensure that every financial decision takes climate change into account. This will require a drastic increase in the quantity, quality and comparability of climate-related disclosures.</p><p> </p><p>That is why, in November 2020, the Chancellor announced the UK’s intention to make disclosures in line with the recommendations of the Task Force for Climate-related Financial Disclosures mandatory in the UK across the economy, including the financial services sector, by 2025. This commitment is world-leading and significant progress towards achieving our ambition, including new requirements for premium-listed firms to disclose their Greenhouse Gas emissions, has already been made.</p><p> </p><p>We have also committed to implementing a green taxonomy that will establish a common definition for ’sustainable economic activities’ and improve understanding around the impact of firms’ activities and investments on the environment.</p><p> </p><p>Together, these measures will ensure that firms across the whole economy are disclosing robust and comparable climate and sustainability-related information that is decision-useful for investors. This will help close the sustainability data gap, as well as preventing greenwashing and supporting the greening of the UK economy.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 28/05/2021 09:52:36 answering member 4051 label Biography information for John Glen
	tabling member	4520 label Biography information for Matthew Pennycook

1315726

	registered interest
	date	18/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Net Zero Review
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when he plans to publish the final report of his Department’s Net Zero Review.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	3084
	answer	answer is ministerial correction date of answer 24/05/2021 answer text <p>HM Treasury’s Net Zero Review final report will be published this spring.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 24/05/2021 07:06:39 answering member 4597 label Biography information for Kemi Badenoch
	tabling member	4520 label Biography information for Matthew Pennycook

1315884

	registered interest
	date	18/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Institutions: Carbon Emissions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the report by the Advisory Group on Finance for the Climate Change Committee entitled The road to net-zero finance, published in December 2020, whether he plans to take steps to implement the recommendation in that report that net-zero greenhouse gas targets should be made mandatory for financial institutions.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	3085
	answer	answer is ministerial correction date of answer 24/05/2021 answer text <p>In a Statement to the House of Commons in November 2020, the Chancellor set out his vision for the financial services sector for an open, green, and technologically advanced sector acting in the interests of communities and citizens across the UK, creating jobs, supporting businesses, and powering growth as we direct all our energies towards economic recovery.</p><p>In November 2020 we became the first country in the world to announce our intention to make TCFD-aligned disclosures fully mandatory across the UK economy. Concurrently, the Chancellor announced that the UK would create a green taxonomy to help companies and investors determine which activities are sustainable. Both policies will facilitate transition finance and prevent greenwashing.</p> answering member constituency Salisbury answering member printed John Glen question first answered 24/05/2021 13:27:59 answering member 4051 label Biography information for John Glen
	tabling member	4520 label Biography information for Matthew Pennycook

1315885

	registered interest
	date	18/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Climate Change Convention: Greenhouse Gas Emissions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether it is Government policy for the Financial Conduct Authority and Prudential Regulation Authority to discharge their functions consistently with the goals of the (a) Paris Agreement and (b) global greenhouse gas emissions reductions required to meet those goals.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	3086
	answer	answer is ministerial correction date of answer 24/05/2021 answer text <p>The Chancellor sent letters of recommendations to the Financial Conduct Authority (FCA) and Prudential Regulation Committee on 23 March 2021. These letters make recommendations about aspects of the government’s economic policy that the two organisations should have regard to when considering how to advance their objectives and discharge their duties. For the first time, these letters specified that the regulators should have regard to the government’s commitment to achieve a net-zero economy by 2050 under the Climate Change Act 2008 (Order 2019).</p><p>However, it is important to note that both the FCA and Prudential Regulation Authority (PRA) are operationally independent, non-governmental bodies. Although the Treasury sets the legal framework for the regulation of financial services, it has strictly limited powers in relation to the FCA and PRA. In particular, the Treasury has no general power of direction over the FCA and PRA.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 3087 question first answered 24/05/2021 13:43:04 answering member 4051 label Biography information for John Glen
	tabling member	4520 label Biography information for Matthew Pennycook

1315887

	registered interest
	date	18/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Climate Change Convention: Greenhouse Gas Emissions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has plans to direct the Financial Conduct Authority and Prudential Regulation Authority to discharge their functions consistently with the goals of the (a) Paris Agreement and (b) global greenhouse gas emissions reductions required to meet those goals.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	3087
	answer	answer is ministerial correction date of answer 24/05/2021 answer text <p>The Chancellor sent letters of recommendations to the Financial Conduct Authority (FCA) and Prudential Regulation Committee on 23 March 2021. These letters make recommendations about aspects of the government’s economic policy that the two organisations should have regard to when considering how to advance their objectives and discharge their duties. For the first time, these letters specified that the regulators should have regard to the government’s commitment to achieve a net-zero economy by 2050 under the Climate Change Act 2008 (Order 2019).</p><p>However, it is important to note that both the FCA and Prudential Regulation Authority (PRA) are operationally independent, non-governmental bodies. Although the Treasury sets the legal framework for the regulation of financial services, it has strictly limited powers in relation to the FCA and PRA. In particular, the Treasury has no general power of direction over the FCA and PRA.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 3086 question first answered 24/05/2021 13:43:04 answering member 4051 label Biography information for John Glen
	tabling member	4520 label Biography information for Matthew Pennycook

1285106

	registered interest
	date	09/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	COP26 Private Finance Hub
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the terms of reference are for the COP26 Private Finance Hub.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	151779
	answer	answer is ministerial correction date of answer 22/02/2021 answer text <p>The Treasury is supporting preparations for COP26 across a range of policy areas, including private finance. There is a team of 19 staff, drawn from secondees across the Bank of England, the Financial Conduct Authority, the Department for Business Energy and Industrial Strategy, as well as HM Treasury officials working on this area. The team reports to the Chancellor and Treasury ministers.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/02/2021 09:36:37 answering member 4051 label Biography information for John Glen
	tabling member	4520 label Biography information for Matthew Pennycook

1284742

	registered interest
	date	08/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	COP26 Private Finance Hub: Staff
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, which Minister has responsibility for the COP26 Private Finance Hub; how many staff work in the Hub; how many of those staff are seconded from Departments, organisations or bodies outside of his Department; and if he will list those Departments, organisations or bodies from which those staff are seconded.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	150882
	answer	answer is ministerial correction date of answer 11/02/2021 answer text <p>The Treasury is supporting preparations for COP26 across a range of policy areas, including private finance. There is a team of 19 staff, drawn from secondees across the Bank of England, the Financial Conduct Authority, the Department for Business Energy and Industrial Strategy, as well as HM Treasury officials working on this area. The team reports to the Chancellor and Treasury ministers.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/02/2021 14:15:32 answering member 4051 label Biography information for John Glen
	tabling member	4520 label Biography information for Matthew Pennycook

1258743

	registered interest
	date	07/12/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Stamp Duty Land Tax: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to his Department’s policy of reduced rates of Stamp Duty Land Tax for residential properties purchased from 8 July 2020 to 31 March 2021, what assessment he has made of the potential merits of extending the deadline for completing transactions beyond 31 March 2021 for people whose property transactions may be delayed as a result of the External Wall Fire Review Process.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	126091
	answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>The temporary relief was designed to stimulate immediate momentum in a property market where property transactions fell by as much as 50 per cent during the COVID-19 lockdown in March. This momentum in the property market will also support the jobs of people whose employment relies on custom from the property industry, such as retailers and tradespeople.</p><p> </p><p>The Government will continue to monitor the market. However, as the relief was designed to provide an immediate stimulus to the property market, the Government does not plan to extend this relief.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 15/12/2020 11:22:29 answering member 3991 label Biography information for Jesse Norman
	tabling member	4520 label Biography information for Matthew Pennycook

1150987

	registered interest
	date	21/10/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Treasury: Living Wage
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many staff of his Department are paid less than the London Living Wage; and what requirements his Department places on contractors to pay the London Living Wage to London-based staff.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	2818
	answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>This government is committed to paying people a decent living wage, which is being addressed through the statutory National Living Wage. In April 2019, the National Living Wage increased to £8.21 per hour, handing a full-time worker a further £690 annual pay rise. By 2024 the National Living Wage will rise to £10.50 per hour, reaching 66% of median UK earnings. The scope will be expanded to everyone aged 21 and over and is expected to benefit over 4 million low paid workers.</p><p> </p><p>The Government will always award contracts on the basis of the best value for money for the taxpayer.</p><p> </p><p>No staff directly employed by HM Treasury are paid less than the Real, or London Living Wage for London-based staff. Contractors must be paid at least the National Minimum Wage, or the National Living Wage for workers over 25, in line with statutory requirements, but the London Living Wage is not a requirement.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 29/10/2019 15:40:01 answering member 4655 label Biography information for Sir Simon Clarke
	tabling member	4520 label Biography information for Matthew Pennycook

1139189

	registered interest
	date	16/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Motor Vehicles: Excise Duties
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will ring-fence a proportion of the revenue from Vehicle Excise Duty for projects to improve air quality.
	tabling member constituency	Greenwich and Woolwich
	tabling member printed	Matthew Pennycook
	uin	277795
	answer	answer is ministerial correction date of answer 19/07/2019 answer text <p>The Government is committed to tackling air pollution. We have invested over £3.5 billion since 2010 to improve air quality and deliver cleaner transport.</p><p> </p><p>From 2020, all funds raised through Vehicle Excise Duty in England will be ring-fenced to form a National Roads Fund, which will be reinvested into the road network. We expect some of this investment to support environmental outcomes across the road network, which includes improving air quality.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 19/07/2019 11:19:49 answering member 4320 label Biography information for Robert Jenrick
	tabling member	4520 label Biography information for Matthew Pennycook