Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what her policy is on divesting North Sea oil and gas production.

The Government is strongly committed to the net zero transition, but it is clear that North Sea oil and gas production will be with us for decades to come. The Government will manage the North Sea in a way that manages existing fields for their lifespan and does not jeopardise jobs, even as we take steps to reduce our reliance.

Transforming the financial sector so that it is aligned with net zero can be supported by companies having a transition plan that is specific to them, detailing how their business will align with net zero. This will support an orderly transition.