Sectoral involvement in drafting a deal of this nature is normal. It also makes sense for the industry to be involved in the monitoring and governance of a voluntary deal. However, we are concerned that the targets and accountability arrangements in the Deal are weak and lack the urgent and transformative action which the CCC says is required. In particular, there appear to be few sanctions available to the North Sea Transition Authority in the event that companies do not achieve the producti...

Sectoral involvement in drafting a deal of this nature is normal. It also makes sense for the industry to be involved in the monitoring and governance of a voluntary deal. However, we are concerned that the targets and accountability arrangements in the Deal are weak and lack the urgent and transformative action which the CCC says is required. In particular, there appear to be few sanctions available to the North Sea Transition Authority in the event that companies do not achieve the production emissions targets they have agreed to meet. (Paragraph 200) Accelerating the transition from fossil fuels and securing energy supplies 87 Type: conclusion | Number: 34 | Response status: not_addressed Government response: 78. Government considers that the approach to targets and accountability arrangements in the Deal are right and good progress has been made thus far. The NSTA estimates that total upstream greenhouse gas (GHG) emissions declined by 14.6% in 2021, resulting in an estimated ove