Thirteenth Report - Net zero and the Future of Green Finance

Select Committee
Treasury Committee HC 147 22 April 2021
Report Status Government responded
Conclusions & Recommendations 24 items (21 recs)
Source View on Parliament website
Government Response (AI assessment · 24 of 24 classified)
Accepted 13
Accepted in Part 1
Acknowledged 3
Deferred 3
Not Addressed 4
Government response
Net Zero and the Future of Green Finance: Responses to the Committee’s Thirteenth Report of Session 2019-21 · published 16 Jul 2021
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Recommendations & Conclusions

4 results
1 Recommendation Not Addressed
Para 23
Although the Government has emphasised the need for a “green” recovery, we note it has...
Recommendation
Although the Government has emphasised the need for a “green” recovery, we note it has not, except in limited circumstances, imposed green conditionality on the support it has provided during the coronavirus pandemic. Whilst it is clear that support schemes … Read more
Government Response Summary
The government's response discusses the issuance of green bonds and gilts, but does not address the recommendation to explain why green conditionality was not included in the Recovery Loan Scheme.
HM Treasury
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3 Recommendation Not Addressed
Para 35
In the Net Zero Review final report, the Government should set out what mechanisms it...
Recommendation
In the Net Zero Review final report, the Government should set out what mechanisms it will put in place to integrate the net zero target within departments’ spending review commitments, and how departments will be held to account should they … Read more
Government Response Summary
The government stated that lead departments are responsible for and produce sectoral strategies, citing the BEIS Industrial Decarbonisation Strategy as an example, but did not set out specific mechanisms for integrating net zero targets into spending review commitments or how departments would be held accountable for failing targets.
HM Treasury
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5 Recommendation Not Addressed
Para 47
There are a number of different estimates of the cost of achieving net zero by...
Recommendation
There are a number of different estimates of the cost of achieving net zero by 2050. However, the Government has not yet committed to its own cost estimates and should set these out as soon as possible. The Government should … Read more
Government Response Summary
The government deflects the request for its own net zero cost estimates, methodologies, uncertainties, and scenarios in the Net Zero Review, stating instead that lead delivery departments produce sectoral strategies.
HM Treasury
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6 Recommendation Not Addressed
The Treasury’s Net Zero Review final report should include clear sectoral pathways towards decarbonisation and...
Recommendation
The Treasury’s Net Zero Review final report should include clear sectoral pathways towards decarbonisation and should address the key policy decisions as to the future of high carbon industries. Particular attention should be given to the potential regional impact of … Read more
Government Response Summary
The government states that lead delivery departments are responsible for and produce sectoral strategies, citing the Industrial Decarbonisation Strategy, but does not commit to including clear sectoral pathways or a support framework for impacted communities in the Net Zero Review final report.
HM Treasury
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