Offshore Industry: Climate Change
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment he has made of the extent to which oil and gas companies operating in the UK contribute to the costs of climate-related damage.
Answered by Michael Shanks
The North Sea Transition Authority enforces compliance with the North Sea Transition Deal to ensure the oil and gas sector halves its emissions by 2030 and achieves net zero emissions by 2050, in line with the UK’s carbon budget. The targets will be achieved through initiatives including the industry’s Methane Action Plan which includes a 50% methane reduction target by 2030.
The Government also published in June supplementary environmental impact assessment guidance. The guidance marks a step forward in ensuring the full environmental impact of oil and gas extraction - including end use emissions - is considered for offshore projects.
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