Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the his Department's policy paper entitled Net Zero Review Final Report, published on 19 October 2021, what recent progress his Department has made on reviewing (a) the public sector balance sheet and (b) risk exposures in the context of climate change and the shift to a greener economy.

HM Treasury continues to build governance, capabilities and processes to support our transition to Net Zero. That includes developing our analytical capability for assessing and reporting on our net zero transition and the impact of policies and projects.

As set out in the Charter for Budget Responsibility, the OBR produces an annual sustainability report which analyses the sustainability of, and the risks to, the public finances. The government’s response to the 2022 Fiscal Risks and Sustainability Report, published at Spring Budget 2023, included an update on progress made on managing the risks of the net zero transition.