Action on Climate Change and Decarbonisation

Obviously we will discuss the Ways and Means motion on the Energy (Oil and Gas) Profits Levy Bill, or so-called windfall tax, later, but does my hon. Friend agree that companies such as BP and Shell that have agreed to become net zero companies should put their money where their mouth is and maybe establish a net zero fund? Such a fund could be tapped into over a long period to help to pay for some of the energy efficiency measures, demonstrating that it is not just green levies that will pay for additional net zero support mechanisms, and that we can leverage in private finance. Let us look to create a fund that could be financeable over a long period, given that we are holding these companies to account for their net zero commitments.