Church Investments: Environmental, Social and Governance Leadership

2. Whether the Church of England is taking steps to show environmental, social and governance leadership in its investments.

The transition pathway initiative, of which the national investing bodies of the Church of England are co-founders, has supporters representing a combined $50 trillion under management, all committed to making the transition to a low-carbon economy. The Church Commissioners also co-chair the investors policy dialogue with Indonesia on reversing deforestation.

My hon. Friend will, of course, be aware that a report on the UK’s upcoming green taxonomy was published this morning by the all-party parliamentary group on environmental, social and governance, of which he is a valuable vice-chair. I thank him for his support and his endeavours. One of the report’s key recommendations is that the Government should consult widely with stakeholders. What discussions have the Church Commissioners had with the Government, including the Treasury, about the UK’s green taxonomy and its implications for the Church’s ESG policy and investments?

I thank my hon. Friend for his brilliant work of chairing the all-party parliamentary group on environmental, social and governance, which are so important. I am pleased that Olga Hancock, of the Church Commissioners, chairs the policy committee of the UK Sustainable Investment and Finance Association, which is a member of the Government’s green technical advisory group, so I can reassure my hon. Friend that the Church is right at the heart of this important work.