CLIMATE-RELATED FINANCIAL DISCLOSURES

That this House recognises that the City of London plays a leading role in the global finance industry; welcomes initiatives designed to promote green finance, such as the Green Finance Taskforce; recognises that enabling financial flows through data and disclosure is important in upholding this status and meeting the goals of the Paris climate agreement; calls on the Government to implement the recommendations of the Task Force on Climate-­related Financial Disclosures, which was initiated by the Governor of the Bank of England; and urges the Government to enhance the UK's corporate reporting regime by requiring financial institutions and companies to outline how they will mitigate climate-related financial risk, and how their businesses are innovating to promote a low-carbon economy.