Financial Services Bill — Schedule 2 — Prudential Regulation of Investment Firms — Reduction of Greenhouse Gas Emissions — 13 Jan 2021 at 18:00
The majority of MPs voted not to require the Financial Conduct Authority to have regard to the target of reducing UK greenhouse gas emissions back to 1990 levels by 2050 when setting capital and risk related requirements for investment firms.
The amendment rejected in this vote was
- Amendment 1, page 63, line 5, at end insert—
- “(ba) the target for net UK emissions of greenhouse gases in 2050 as set out in the Climate Change Act 2008 as amended by the Climate Change Act (2050 Target Amendment) Order 2019, and”
Had it not been rejected the amendment would have inserted the above text into Part 1 of Schedule 2 of the Bill which itsself provided for a new part (9C) of the Financial Services and Markets Act 2000. The specific proposed new section of the Financial Services and Markets Act 2000 into which the amendment would have been inserted began:
- 143G Matters to consider when making Part 9C rules
- (1) When making Part 9C rules, the FCA must, among other things, have regard to—
FCA is a reference to the Financial Conduct Authority.
-  Parliament's webpage on the Financial Services Bill, Parliament.uk
-  Explanatory notes to the Financial Services Bill, Parliament.uk
Votes by party, red entries are votes against the majority for that party.
What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.
What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.
What is Turnout? This is measured against the total membership of the party at the time of the vote.
|Party||Majority (No)||Minority (Aye)||Both||Turnout|
|Con||355 (+2 tell)||0||0||97.8%|
|Lab||0||195 (+2 tell)||0||98.5%|