Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his Department's policies of the report by Oxfam entitled, Climate equality: A planet for the 99%, published 20 November 2023.

The Government is committed to a pragmatic, proportionate, and realistic approach to meeting all our net zero commitments that eases the burdens on families.

In keeping with Green Book guidance, HMT considers the distributional impacts of policy where there may be significant redistributive effects. The Net Zero Review, published in 2021, included analysis to help understand households’ exposure to the net zero transition.

The UK is also delivering on our commitment to spend £11.6bn International Climate Finance between 2021/22 and 2025/26, ensuring a balance between adaptation and mitigation and including at least £3bn on protecting and restoring nature. The OECD has indicated that it is likely that donors met the $100bn climate finance goal for the first time in 2022, based on preliminary data. We regret that the $100bn goal is being met later than expected. However, it is important to recognise that significant progress has been made.