The government agrees with the Committee’s recommendation. Target implementation date: Autumn 2021 HM Treasury is already playing an active role in supporting the government’s environmental goals, including delivery of the legally-binding net zero commitment. As well as its role in relation to tax and spend policy and the financial services sector, HM Treasury is conducting an analytical review exploring the key issues and trade-offs as the UK decarbonises. Against a backdrop of significant uncertainty on technology and costs, as well as changes to the economy over the next 30 years, the Net Zero Review (NZR) focuses on the potential exposure of households and sectors to the transition, and its final report will highlight factors to be taken into account in designing policy that will allocate costs over this time horizon. Work on the government’s overall Net Zero Strategy is being led by the Department for Business, Energy and Industrial Strategy (BEIS), and HM Treasury is closely involved in developing this including to ensure that tax options are considered alongside regulation and spending. The government agrees with the Committee’s recommendation. Target implementation date: Autumn 2021 Work on the government’s Net Zero Strategy is being led by BEIS, and, as per the government response to the Committee on Climate Change’s 2020 Progress Report, they will publish a comprehensive net zero strategy on behalf of the government ahead of COP26. This will set out the government’s vision for transitioning to a net zero economy, making the most of new growth and employment opportunities across the UK. It is not the role of HM Treasury to publish a separate strategy. Nevertheless, the NZR will include an update on how climate considerations are being embedded within HM Treasury governance arrangements, guidance and processes, including at fiscal events.