Carbon Emissions: Capital Investment

Department for Business, Energy and Industrial Strategy written question – answered on 12th October 2020.

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Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department plans to establish a banking agency to finance green investments as part of the Industrial Strategy.

Photo of Kwasi Kwarteng Kwasi Kwarteng The Minister of State, Department for Business, Energy and Industrial Strategy

Within the decade, my Rt. Hon. Friend the Prime Minister is determined for the UK to be at the forefront of the green industrial revolution as we accelerate our progress towards net zero emissions by 2050. That is why, this year alone, the government has set out billions in support for our low-carbon economy. As set out in the 2019 Green Finance Strategy, this needs to be combined with a focus on mobilising and accelerating flows of private finance into key clean growth sectors to provide good value for taxpayers, such as through providing long-term certainty and using public funds to leverage private capital.

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