Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the impact of the Green Financing Programme on (a) the net zero target and (b) the sixth carbon budget.

The Green Financing Programme has raised more than £29bn since its launch in 2021. Financing raised from the programme is earmarked towards eligible green expenditures.

The expenditures earmarked to the Green Financing Programme in the 2021-22 financial year are listed in the Government’s ‘UK Green Financing Allocation Report’, published in September 2022. The environmental impact of these expenditures is being evaluated and will be presented in the Impact Report due for publication in September 2023.