Defence: Finance
The question
To ask the Secretary of State for Defence, whether he has made an assessment of the potential impact of ESG policies against investment and financing of defence companies on the cost of defence procurement, including Trident replacement.
Answered by Ministry of Defence
As set out in the Defence Investment Plan, the Defence Finance and Investment Strategy (DFIS) is set to be published this year. The DFIS will address barriers to financing and investment in the sector – including supporting businesses access finance, in partnership with public financial institutions and private capital.
To inform the DFIS, we have held working sessions on debanking and on Environmental, Social, and Governance considerations, working with regulators, industry, the financial sector and other government departments. This engagement has helped us understand the impact that access to finance and investment may have on defence suppliers and the wider defence sector, and to consider these issues as part of the development of the Defence Finance and Investment Strategy.
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