Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what steps his Department is taking to ensure that transition plan requirements to clean energy are (a) proportionate and (b) flexible for SMEs.

The government consultation seeking views on how to implement transition plan requirements has now closed. We are reviewing responses and will respond in due course. Sustainable finance is a key priority for the government and is one of the growth pillars for the financial services sector in the Industrial Strategy. According to analysis by the CBI, the net zero sector is growing three times faster than the overall UK economy. Transition planning can help businesses and investors identify and seize the economy-wide opportunities of the net zero transition, catalysing investment across the whole economy to create jobs, boost exports and drive economic growth.