Asked by: Anneliese Dodds (Labour (Co-op) - Oxford East)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what discussions his Department has had with the (a) Department for Business and Trade and (b) Treasury on the potential merits of mandating UK-regulated (a) financial institutions, (b) banks, (c) asset managers, (d) pension funds, (e) insurers and (f) FTSE 100 companies to (i) publish their carbon footprint and (ii) develop and implement credible transition plans.
Answered by Kerry McCarthy - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Large UK-registered companies are already required to disclose their scope 1, scope 2 and elements of scope 3 carbon emissions under the Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.
The Government has committed to delivering the foundations of a world-leading sustainable finance framework to drive investment in the green transition and deliver economic growth. The Department for Energy Security and Net Zero has worked closely with the Department for Business and Trade and HM Treasury on how best to take forward transition plan and emissions reporting requirements and will consult with stakeholders on these topics in due course.
Asked by: Anneliese Dodds (Labour (Co-op) - Oxford East)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the value for money of the Energy Company Obligation scheme.
Answered by Miatta Fahnbulleh - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Energy Company Obligation (ECO) requires energy suppliers to fund energy efficiency and heating upgrades in eligible homes, with costs recovered through consumer bills. Since 2013, 4.2 million measures have been installed in 2.5 million homes. ECO4’s final impact assessment projected a positive net present value of £0.8 billion, underscoring the strong social impact and economic value of ECO.