Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, how much revenue was raised as a result of the sale of allowances under the UK Emissions Trading Scheme in 2021; and the total value of the proceeds of that scheme that has been allocated to projects to limit climate change.

The total revenue raised from the sale of allowances under the UK Emissions Trading Scheme in 2021 was £4,310,021,495. All these proceeds support key government objectives including decarbonisation. The Autumn Budget and Spending Review 2021 confirmed that since March 2021, the government will have committed a total of £30 billion of domestic investment for the Green Industrial Revolution. As the Government set out in the Net Zero Strategy, this spending package, along with action on regulation and green finance, will keep the UK on track for its carbon budgets and 2030 Nationally Determined Contribution, and establishes the longer-term pathway towards net zero by 2050.