Net Zero and the Future of Green Finance Contents




The Government’s decision to legislate for net zero

Our inquiry

1 The economic opportunities and costs of net zero

Green finance: an economic opportunity

Economic recovery: taking a “green” approach

‘Building back greener’ post coronavirus

Government decision making and the Net Zero Review

Co-ordination of Government effort

Spending reviews

Uncertainty of costs

Regional impact of transition to net zero on high carbon industries

2 Green finance to support decarbonisation

The importance of utilising private finance

Long term policy certainty for investors

Green gilts

Greening central banking

Long-term Asset Fund

Solvency II

National Infrastructure Bank

3 The role of consumers

The importance of consumer choice

Consumer inertia and a lack of choice

Defined contribution pensions

Requirements on workplace pension scheme trustees

Appropriate transparency for consumers and ‘Greenwashing’


Climate risk labels

Passive investments and indices

Green product innovation

4 Regulators and regulation

Remit of the Prudential Regulation Committee and the Financial Conduct Authority

Prudential risks and the capital regime

TCFD implementation and mainstreaming of green finance

Sustainable taxonomy

Conclusions and recommendations

Formal minutes

Witnesses (2017–19 session)

Published written evidence (2017–19 session)

Witnesses (2019–21 session)

Published written evidence (2019–21 session)

List of Reports from the Committee during the current Parliament

Published: 22 April 2021