Climate change is an area of strategic focus for the Treasury because of the likely wide ranging implications it will have for our economy and society.
In keeping with our stewardship role, the Treasury is developing new reporting processes to enhance public transparency and accountability around both the costs of climate change, and government spending to address it.
The Climate Emergency Response Fund
In late 2021 the Government established the Climate Emergency Response Fund (CERF),to provide funding for climate objectives.
The first round of financial monitoring and reporting data for the initiatives funded from the CERF in Budget 2022 is now available. Subsequent updates will be provided regularly to enhance transparency over CERF spending and its progress toward climate objectives.