Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

Part of the debate – in the House of Commons at 12:22 pm on 11th September 2020.

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Photo of Paul Howell Paul Howell Conservative, Sedgefield 12:22 pm, 11th September 2020

I absolutely agree, and it is important to create an environment in which that can grow and that that extension is done in a way that retains the safety and confidence of the investors.

The Economic Secretary to the Treasury concluded his speech by saying:

“This might include helping people who aren’t insured secure the protection they need. Or it could involve helping people buy goods on hire purchase at more affordable rates.”

I understand that environmentally sustainable investments are defined by their support for the creation of an innovative, productive and low-carbon economy, and the maintenance and enhancement of a biodiverse natural environment with healthy functioning ecosystems and ecological resilience. As with any innovation, these can be more risky investments. I believe they can also include what are referred to as “impact investments”, where the primary purpose is the impact as opposed to the return, or even the security of the capital. For investors, credit unions, and many other small investors, capital is not something they want to be placed at risk.