Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department will include natural gas and nuclear in the green taxonomy.

The Government has set out plans to deliver a UK Green Taxonomy – a tool to provide investors with definitional certainty about the green economic activities they are invested in. This will help address risks of greenwashing and support greater investment into key sectors. We will consult on this in Autumn 2023.

Nuclear energy has an important role in achieving net zero by 2050 as a crucial source of reliable low carbon energy. The Government has stated its intention to include nuclear in the UK Green Taxonomy, subject to consultation, incentivising private investment in this important technology alongside renewables.

We have not yet set out further details of what will or will not be included in the Taxonomy.