Climate Change

Department for Business, Energy and Industrial Strategy written question – answered on 2nd October 2019.

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Photo of Lord Bird Lord Bird Crossbench

To ask Her Majesty's Government what assessment they have made of the recommendations in the report by the World Future Council Unlocking the Trillions to Finance the 1.5°c Limit, published on 7 November 2017, concerning the role of central banks buying fossil fuel stranded assets on the condition that the money is invested in the renewable energy sector.

Photo of Lord Duncan of Springbank Lord Duncan of Springbank Parliamentary Under-Secretary (Northern Ireland Office), Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

An error has been identified in the written answer given on 09 September 2019.

The correct answer should have been:

It has not proved possible to respond to this question in the time available before Prorogation. I will correspond directly with the noble Lord.

The Government’s Green Finance Strategy sets out the Government’s approach to accelerating green finance. As set out in the Strategy, the Government welcomes the work of the Central Banks’ and Supervisors’ Network for Greening the Financial System, of which the Bank of England is a founding member.

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Photo of Lord Duncan of Springbank Lord Duncan of Springbank Parliamentary Under-Secretary (Northern Ireland Office), Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

It has not proved possible to respond to this question in the time available before Prorogation. I will correspond directly with the noble Lord.

The Government’s Green Finance Strategy sets out the Government’s approach to accelerating green finance. As set out in the Strategy, the Government welcomes the work of the Central Banks’ and Supervisors’ Network for Greening the Financial System, of which the Bank of England is a founding member.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.