Barry Gardiner – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Barry Gardiner on 2016-05-23.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential implications of the revised EU Directive on Institutions for Occupational Retirement Provisions for lowering the exposure of pension fund savers to climate change-related financial risk.

Mr David Gauke

The Government’s priority for the draft Directive is ensuring sound and proportionate regulation of occupational pension schemes, which respects differences in the national arrangements between Member States.

As is usual practice, an overall impact assessment for the draft Directive has been prepared by the EU institutions, and a national-level impact assessment will be prepared as and when the Directive is transposed into UK law.

The Government has approached negotiations on the Directive in line with the usual co-ordination process across departments.