Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the level of final support provided by UK banks for new oil and gas projects.

Bank’s decisions on commercial lending are matters for them.

The British Energy Security Strategy, published on 7 April 2022, sets out the importance of oil and gas to energy security and the transition to net zero. Nearly all major UK banks are signatories to the Glasgow Financial Alliance for Net Zero (GFANZ) and are committed to transition their lending to align with Net Zero.