Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what estimate they have made of the revenue and earnings attributable to UK listed firms from (1) trading commodity derivatives, and (2) economically equivalent over the counter contracts.
Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)
HM Treasury does not hold this data. However, such data may be provided publicly by certain financial markets data companies.Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what estimate they have made of how many consumers have invested in commodity derivatives for (1) oil, (2) gas, (3) coal, (4) electricity, and (5) soft commodities, via automatic enrolment in workplace pensions over the past 12 months.
Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)
HM Treasury does not hold this data. However, such data may be provided publicly by certain financial markets data companies.Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what estimate they have made of how many consumers have directly invested in commodity derivatives for (1) oil, (2) gas, (3) coal, (4) electricity, and (5) soft commodities, in the past 12 months.
Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)
HM Treasury does not hold this data. However, such data may be provided publicly by certain financial markets data companies.Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what consumer protections are in place for consumers directly or indirectly investing in commodity derivatives.
Answered by Baroness Penn - Minister on Leave (Parliamentary Under Secretary of State)
Most commodity derivatives are regulated by the Financial Conduct Authority (FCA), who have an operational objective to secure appropriate protection for consumers of regulated financial services.
The protections the FCA have in place to protect consumers include requiring firms to provide clients with a general description of the nature and risks of financial instruments, and a warning that people usually lose money when trading speculative instruments with commodities as an underlying asset. These protections apply when consumers participate in the market directly and indirectly and enables them to make investment decisions on an informed basis. Depending on the circumstances, consumers may also be able to qualify for Financial Services Compensation Scheme protection when dealing indirectly with commodity markets.
Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the Cabinet Office:
To ask Her Majesty's Government what estimate they have made of the (1) numbers, and (2) total values, of public contracts entered into by public authorities with an estimated value of (a) more than £2 million that is not a light-touch contract, (b) more than £2 million that is a light-touch contract, and (c) less than £2 million.
Answered by Lord True - Leader of the House of Lords and Lord Privy Seal
The Cabinet Office does not hold this information.
Details of Government contracts above £10,000, and £25,000 in the wider public sector, are published on Contracts Finder (https://www.gov.uk/contracts-finder).
Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the Cabinet Office:
To ask Her Majesty's Government what estimate they have made of the (1) numbers, and (2) total values, of public contracts entered into by government departments, their executive agencies, and non-departmental public bodies with an anticipated contract value above £5 million (excluding VAT) per annum, that are (a) subject to Procurement Policy Note 06/21, and (b) not subject to Procurement Policy Note 06/21.
Answered by Lord True - Leader of the House of Lords and Lord Privy Seal
The Cabinet Office does not hold the reporting or recording of contract level greenhouse gas emissions for the public sector. Individual departmental emissions (including contributions made by public contracts) are recorded via the Greening Government commitments (https://www.gov.uk/government/collections/greening-government-commitments).
By the end of May 2021, 50 commercial agreements above the threshold of £5m per annum had applied Procurement Policy Notice 06/21, with a total value of £82 billion over the life of those agreements.
Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the Cabinet Office:
To ask Her Majesty's Government what estimate they have made of the greenhouse gas emissions associated with public contracts entered into by (1) government departments, their executive agencies, and non-departmental public bodies, and (2) other public authorities covered by public procurement regulations.
Answered by Lord True - Leader of the House of Lords and Lord Privy Seal
The Cabinet Office does not hold the reporting or recording of contract level greenhouse gas emissions for the public sector. Individual departmental emissions (including contributions made by public contracts) are recorded via the Greening Government commitments (https://www.gov.uk/government/collections/greening-government-commitments).
By the end of May 2021, 50 commercial agreements above the threshold of £5m per annum had applied Procurement Policy Notice 06/21, with a total value of £82 billion over the life of those agreements.
Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the Cabinet Office:
To ask Her Majesty's Government what estimate they have made of the numbers and total values of public contracts covered by (1) the National Health Service (Procurement, Patient Choice and Competition) (No. 2) Regulations 2013, (2) the Public Contracts Regulations 2015, (3) the Utilities Contracts Regulations 2016, (4) the Concession Contracts Regulations 2016, and (5) the Defence and Security Public Contracts Regulations 2011.
Answered by Lord True - Leader of the House of Lords and Lord Privy Seal
The Cabinet Office does not hold the data in the manner requested. However, information on the value of contracts anticipated to be covered by the Procurement Bill and the NHS Provider Selection Regime is set out in the Impact Assessment published alongside the Procurement Bill (https://bills.parliament.uk/bills/3159/publications)
Details of Government contracts above £10,000, and £25,000 in the wider public sector, should be published on Contracts Finder (https://www.gov.uk/contracts-finder).
Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what plans they have to include international aviation and shipping emissions in the Sixth Carbon Budget, as recommended by the Climate Change Committee in their report The Sixth Carbon Budget, published in December 2020.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
We have laid legislation for the UK’s sixth carbon budget, proposing a world-leading target, which would reduce greenhouse gas emissions by 78% by 2035 compared to 1990 levels. This is in line with the latest science as the level recommended by our expert advisers at the Climate Change Committee (CCC).
We have set the sixth carbon budget to include international aviation and shipping emissions, as recommended by our independent climate advisors, the Climate Change Committee.
We remain fully committed to global action to tackle IAS emissions through international processes at the International Civil Aviation Organisation (ICAO) and International Maritime Organisation (IMO).
Asked by: Baroness Worthington (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government when they will set a long-term carbon pricing signal to support the removal of carbon emissions from the atmosphere in the UK.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
On the 1st of January 2021, the Government implemented the UK Emissions Trading Scheme (UK ETS) that will be the world’s first net zero carbon cap and trade market. We will consult in due course on how to align the UK ETS cap with an appropriate net zero trajectory, meaning the system will significantly contribute to ensuring the UK meets our commitment to net zero emissions by 2050. The operation of the cap will provide certainty about the decarbonisation trajectory over the long term.
The initial scope of the UK ETS provides continuity with the EU system we have now left, covering emissions from energy intensive industry, aviation and electricity generation. In the Energy White Paper, we committed to exploring expanding the UK ETS to other sectors and will set out our aspirations to continue to lead the world on carbon pricing in the run-up to COP26. This will also include how the UK ETS could incentivise the deployment of greenhouse gas removal technologies.