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Written question asked by Lord Bird (Crossbench) on Friday, 6 September 2019, in the House of Lords. It was due for an answer on Friday, 20 September 2019. It was answered by Lord Duncan of Springbank (Conservative) on Monday, 9 September 2019 on behalf of the Department for Business, Energy and Industrial Strategy.

Climate Change

Question

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.

Original answer

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 answer was corrected by Lord Duncan of Springbank (Conservative)

on Wednesday, 2 October 2019 on behalf of the Department for Business, Energy and Industrial Strategy.

Corrected answer

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.

Secondary information

Type
Written question
Reference
HL17779
Session
2017-19
Related items
Deposited Paper DEP2019-0905
Monday, 9 September 2019
Deposited papers
House of Lords
Lord Speaker’s Statement
Wednesday, 25 September 2019
Parliamentary proceedings
House of Lords
Notes
Supreme Court ruling of 24 September that Parliament was not prorogued on 9 September.
Subjects
Assets Climate change Central banks Investment Fossil fuels Renewable energy
Link
View this Written question on www.parliament.uk