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Written question asked by John Glen (Conservative) on Wednesday, 2 April 2025, in the House of Commons. It was due for an answer on Monday, 7 April 2025. It was answered by Emma Reynolds (Labour) on Wednesday, 9 April 2025 on behalf of the Treasury.

Trident Submarines: Procurement

Question

To ask the Chancellor of the Exchequer, with reference to Annex 2 of the Commission Delegated Regulation (EU) 2020/1816, whether Trident renewal is classified as a controversial weapon for the purposes of (a) environmental, social, and governance and (b) ethical investments.

Answer

The UK Benchmarks Regulation sets out the requirements for UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks. The Financial Conduct Authority (FCA) monitor and supervise benchmark administrators according to the Benchmarks Regulation to ensure that benchmarks are produced robustly and with due transparency. The FCA published a statement regarding their position on sustainability regulations and UK defence investment on 11 March 2025.

It is for benchmark administrators to decide if they wish to provide UK Climate Transition Benchmarks and UK Paris-aligned benchmarks under the Benchmarks Regulation, including by paying due regard to the relevant FCA guidance, and which companies to include in their benchmarks. It is then up to firms and investors to choose whether to use these benchmarks.

This Government does not see a conflict between sustainable investment and investment in our world-leading defence sector.

Secondary information

Type
Written question
Reference
43449
Session
2024-26
Related items
Trident Submarines: Procurement
Thursday, 1 May 2025
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Defence: Carbon Emissions
Tuesday, 9 September 2025
Written questions
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Grouped for answer
Yes
Subjects
Costs Procurement Trident submarines
Link
View this Written question on www.parliament.uk