Oral Answers to Questions
Debate between Lord Sharma and Barry Gardiner(2 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Alok Sharma
My hon. Friend raises a very important point. Of course, decarbonising the transport sector, along with other sectors, should be a key priority going forward.
Barry Gardiner (Brent North) (Lab)
The recent Carbon Tracker report set out the exposure of each financial sector across the world to stranded assets—over $1 trillion in total. Will the COP President be engaging with each of the heads of the financial sectors—such as the Securities and Exchange Commission and the London stock exchange—to ensure that they cope with that problem?
Alok Sharma
The private sector is very focused on the issue of the move to net zero. As the hon. Gentleman will know, in Glasgow, $130 trillion of assets were signed up to net zero. Anyone investing in assets that might end up being stranded has to be very clear about the financial decisions they are taking.