I'm studying General Relativity and I'm getting a little confused with the relation between symmetries and conservation laws.
Indeed, in Classical Mechanics we prove from the variational principle that each symmetry of the lagrangian gives rise to a conservation law. This is Noether's theorem and is really a corolary from the Euler-Lagrange equations.
Now, in General Relativity, I've read that when the Lie derivative of the metric tensor with respect to a vector field $X$ vanishes, then the metric tensor has a symmetry under the transformation generated by the flow of the vector field, and this also gives rise to a symmetry.
For example: in the Schwarzschild metric
$$ds^2=\left(1-\dfrac{2GM}{r}\right)dt^2-\left(\dfrac{1}{1-\dfrac{2GM}{r}}\right)dr^2-r^2d\theta^2-r^2\sin^2\theta d\phi^2$$
we can easily show that $\mathfrak{L}_{\frac{\partial}{\partial t}}g=0$. In other words, the metric would be invariant under time translations. It is said this gives rise to conservation of energy. The same can be argued for spherical symmetry.
My question here is: it is said that if the metric tensor is invariant under a certain transformation given by the flow of a vector field $X$, that is, if the Lie derivative $\mathfrak{L}_X g =0$, then there is a conservation law.
But this conservation law is for what system? The quantity being conserved is for what system? I really didn't get here. So just for example, in the Schwarzschild metric energy is conserved. But for what system? I'm not getting for what system the conservation law deduced by symmetry of the metric applies.