Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask His Majesty's Government (1) when, and (2) how, heat network customers will receive payments from the Energy Bills Support Scheme Alternative Fund.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Eligibility, timescales and method of delivery for the Energy Bills Support Scheme Alternative Funding will be announced in the coming weeks.
Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask His Majesty's Government how much money was spent both commercially and domestically on energy in the UK in (1) 2019, (2) 2020, and (3) 2021; and what assessment they have made of the expected expenditure on energy in (a) 2022, and (b) in each subsequent year to 2030.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The value of expenditure on all UK energy, by sector, for 2019, 2020 and 2021, is published as part of the Digest of UK Energy Statistics (DUKES) value balances.
Statistics on energy expenditure for 2022 will be published in July 2023 and will reflect the support government has announced for both non-domestic and domestic energy consumers over the winter. For example, the Energy Price Guarantee will save the typical household around £700 on its energy bill over six months to March 2023.
Over the longer-term, policies to improve energy efficiency and increase low carbon energy supply will help to reduce both the amount of energy consumed and exposure to volatile international fossil fuel prices.
Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to the answer by Lord Callanan on 2 December (HL Deb, col 1458), how much oil from the proposed development at Cambo is predicted to be exported; and whether future exports will be considered when deciding on planning consent for the Cambo oil field.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
No decision has yet been made regarding the proposed Cambo field.
Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what countries North Sea oil and gas are exported to; and what quantity is exported to each country.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Export destinations of primary oils are published in the Digest of UK Energy Statistics table 3.10.
Export destinations of natural gas are published in the Digest of UK Energy Statistics table 4.5.
To note, the UK records exports of crude oil and natural gas but does not separately identify oil and gas that was originally extracted from the UKCS. Exports shown will include oil and gas produced in the North Sea as well as oil and gas that originated elsewhere and has subsequently been re- exported.
Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what quantity of oil and gas is (1) exported from, and (2) imported to, the UK annually, for each different classification of those substances.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Imports and exports of primary oil are published in the Digest of UK Energy Statistics table 3.1.
Imports and exports of petroleum products are published in the Digest of UK Energy Statistics table 3.2.
Imports and exports of natural gas are published in the Digest of UK Energy Statistics table 4.1.
Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made as to whether voluntary pledges by the UK financial sector will be sufficient to ensure that sector's carbon emissions are reduced in line with the goals of the Paris Agreement.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The UK was the first major economy to commit to Net Zero by 2050, and to achieve that ambition, we want to ensure that every financial decision takes climate change into account. This will require a drastic increase in the quantity, quality and comparability of climate-related disclosures. That is why, in November 2020, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced the UK’s intention to make disclosures in line with the recommendations of the Task Force for Climate-related Financial Disclosures mandatory in the UK across the economy, including the financial services sector, by 2025. This commitment is world-leading and significant progress towards achieving our ambition, including new requirements for premium-listed firms to disclose their greenhouse gas emissions, has already been made.
We have committed to implementing a green taxonomy that will establish a common definition for ’sustainable economic activities’ and improve understanding around the impact of firms’ activities and investments on the environment. Together, these measures will ensure that firms across the whole economy are disclosing robust and comparable climate and sustainability-related information that is decision-useful for investors. This will help close the sustainability data gap, as well as preventing greenwashing and supporting the greening of the UK economy.
Finance is one of the four over-arching goals of the UK Government’s COP26 Presidency. At the core of the COP26 finance campaign is the creation of a private finance system for net zero. This entails building a virtuous cycle of innovation and investment, making sure that policies, business plans and investment decisions all align with net zero targets. As a result, we are already seeing very positive momentum within the private finance sector. For example, the Glasgow Financial Alliance for Net Zero has secured commitments from 160 firms (together responsible for assets in excess of $70tn) across the global financial system to accelerate the transition to net zero emissions. All members must be accredited by the UN Race to Zero campaign and use science-based guidelines to reach net zero emissions, covering all emissions scopes (including a 2030 interim target). Hence, there is already a large push for voluntary setting of net zero targets by financial institutions.
Asked by: Baroness Hayman (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the carbon emissions produced by the UK financial sector.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The UK follows the agreed international approach for estimating and reporting greenhouse gas emissions under the UN Framework Convention on Climate Change (UNFCCC), which is for countries to report emissions produced within their territories. All UK domestic and international greenhouse gas emissions reductions targets, including our Net Zero commitment, are based on these territorial emissions.
The UK was the first major economy to commit to Net Zero by 2050, and to achieve that ambition, we want to ensure that every financial decision takes climate change into account. This will require a drastic increase in the quantity, quality and comparability of climate-related disclosures.
That is why, in November 2020, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced the UK’s intention to make disclosures in line with the recommendations of the Task Force for Climate-related Financial Disclosures mandatory in the UK across the economy, including the financial services sector, by 2025. This commitment is world-leading and significant progress towards achieving our ambition, including new requirements for premium-listed firms to disclose their greenhouse gas emissions, has already been made.
We have also committed to implementing a green taxonomy that will establish a common definition for ’sustainable economic activities’ and improve understanding around the impact of firms’ activities and investments on the environment. Together, these measures will ensure that firms across the whole economy are disclosing robust and comparable climate and sustainability-related information that is decision-useful for investors. This will help close the sustainability data gap, as well as preventing greenwashing and supporting the greening of the UK economy.