Written question asked by Lord Callanan (Conservative) on Wednesday, 22 July 2026, in the House of Lords. It was due for an answer on Wednesday, 5 August 2026. It was answered by Baroness Curran (Labour) on Tuesday, 4 August 2026 on behalf of the Department for Energy Security and Net Zero.

Climate Change: Loans

Question: To ask His Majesty's Government, further to their press release Cheaper travel for millions with a third off fares, published on 22 July, what assessment they have made of their ability to claw back funding from the international climate finance projects for which the United Kingdom’s contribution will now take the form of a loan.

Answer: The Government is not clawing back funding from existing international climate finance projects. The £400 million relates to switching grant funding that had been set aside for future international climate finance projects into loans, providing more flexible ways to meet the Government’s international climate objectives. The terms of any loans, including expected repayment arrangements, will depend on the final design of individual investments and will be considered in line with normal value for money and Official Development Assistance requirements.

Secondary information