Net Zero Emissions and Green Investment

Part of Treasury – in the House of Commons on 7th September 2021.

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Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary, Minister for Equalities

I will tell the hon. Lady what the Treasury is doing. We are issuing £15 billion of green bonds over the next year, and launching a world-first green savings bond ahead of COP26 to help finance the Government’s green projects. We set up the UK Infrastructure Bank to invest in net zero, backed by £12 billion of capital, which will also help to unlock more than £40 billion of overall investment in infrastructure. We are committing £11.6 billion in international climate finance over the next five years to help developing countries tackle climate change. The Budget also announced three UK-wide competitions that are part of the £1 billion net zero innovation portfolio. We have the towns deal, which is helping people create new green spaces, build back greener, create sustainable transport routes and repurpose empty shops. The fact is that the Treasury is doing everything it can to support the transition to net zero.