Taxation: Environment Protection
The question
To ask the Chancellor of the Exchequer, with reference to her Department's consultation on the UK Green Taxonomy, published in November 2024, what assessment she has made of (a) the potential regulatory costs of a UK Green Taxonomy and (b) the duplication with other regimes.
Answered by Emma Reynolds
The government has set out its ambition for the UK to be the world leader in sustainable finance. This includes delivering a regulatory framework to support sustainable growth and enable the private sector to realise the opportunities of the transition. Through the consultation, the government was keen to explore whether a UK Green Taxonomy can be a useful tool in contributing to this ambition.
The government is reviewing and analysing the consultation responses, this includes considering the potential costs and how it fits in with existing regulation and regimes. We will publish a formal consultation response in due course which will set out next steps.
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