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Written question asked by Lord Moynihan (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.

Carbon Emissions

Question

To ask His Majesty's Government whether they are considering capping the amount of credit that can be used to support investment in carbon-intensive activities and setting quotas for the amount of finance that should flow to low-carbon investment.

Answer

The UK Government does not have a quota for the amount of finance that should flow to low-carbon investment, but since the government came to office more than £100 billion in clean energy investment announcements has been secured. Net zero is the economic and industrial opportunity of the 21st century, and economic modelling undertaken by the CBI suggests the UK's net zero economy generated £36.7 billion in gross value added in 2025 and supported 308,000 jobs directly, with a further £51.2 billion in gross value added and 520,000 jobs supported through supply chains

The UK government no longer provides new direct financial or promotional support for the fossil fuel energy sector overseas, which includes support provided by UK Export Finance and British International Investment PLC, with limited circumstances set out in public guidance. The National Wealth Fund also does not invest in projects involving extraction, production, transportation, and refining crude oil, natural gas or thermal coal with very limited exemptions.

Secondary information

Type
Written question
Reference
HL2571
Session
2026-27
Subjects
Investment Carbon emissions
Contains statistics
Yes
Link
View this Written question on www.parliament.uk