Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to tie measurable outcomes for (a) progress towards net zero emissions and (b) a net increase in employment within the green economy with the green saving bonds initiative.

In June 2021, the Government published the UK Government Green Financing Framework. This outlines HM Treasury’s approach to measuring and reporting the impact of Green Savings Bonds and the Green Gilt

The Government will publish biennial impact reports starting no later than 2023. These will include metrics measuring the environmental impacts of six categories of expenditure financed by the programme, including Clean Transportation and Renewable Energy. These metrics will demonstrate the green financing programme’s contribution towards net zero emissions.

Impact reports will also include metrics for social co-benefits of expenditures, including the number of jobs created or supported, making clear the role of green financing in the Government’s levelling up agenda.