The Environmental Audit Committee (EAC) has launched a new inquiry into green finance.
It will scrutinise the government’s strategy to develop “world leading green finance capabilities” and is interested in how investment in longer term sustainable development can be incentivised across the economy.
The inquiry will examine a number of areas, including the measures set out in the Clean Growth Strategy, whether the Green Investment Group is fulfilling commitments made by its new owners Macquarie and the UK’s future relationship with the European Investment Bank.
It is also seeking views on how business reporting on climate liabilities and risks could be encouraged and whether the government’s policies are likely to deliver the levels of investment needed to meet the UK’s national and international environmental commitments.
EAC Chair Mary Creagh MP said: “The UK needs billions of pounds of public and private investment to decarbonise the economy and upgrade our transport, energy and industrial infrastructure.
“The government says it wants to be a global leader in green finance. We will scrutinise its plans in the Clean Growth Strategy, look at the Bank of England’s proposals on disclosure of climate-related financial risk and examine what will happen to UK climate investment if we leave the European Investment Bank.”
The inquiry is open until 3rd January 2018.