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Climate Change and the Environment

Part of the debate – in the House of Commons at 12:42 pm on 8th February 2005.

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Photo of Norman Baker Norman Baker Liberal Democrat, Lewes 12:42 pm, 8th February 2005

The hon. Gentleman is right to draw attention to that report. I am glad that not all parts of industry are negative. Some are forward-thinking and the work of the Carbon Trust is useful in that connection. For example, BP spent $20 million to implement its energy reduction strategy between 1998 and 2001. It embarked on that for environmental reasons, but released almost $650 million in financial savings in just three years. There is no doubt that such action can be economically as well as environmentally beneficial.