As part of its Brexit strategy, the UK government plans to introduce the major, EU-regulation-replacing Financial Services Bill into law, covering everything from Basel Standards and issues about Libor to trade with Gibraltar.
But until a few weeks ago, the bill had no mention of climate change. That is, until a cross-party group of peers in the country’s upper chamber, the House of Lords, tabled amendments focused on the climate emergency.
The peers, including Baroness Helene Hayman, Lord Jonny Oates, Baroness Jones of Whitchurch, Baroness Altmann and Baroness Bennett, secured significant changes supported by the UK government.
Speaking to RI, Baroness Hayman said: “The government has good rhetoric in these areas - you don’t have to argue the case that we need to have a green lens on investment. But somehow there is always a gap between rhetoric and policy, and we particularly found it with this legislation.”
The House of Lords ensure…