Carbon Budget Delivery Plan: High Court Ruling

Baroness Bennett of Manor Castle Excerpts

Wednesday 8th May 2024 Lords Chamber

[Lord Benyon (Con)]

My noble friend may be right—but why would we not want to do this? The net-zero economy grew by 9% last year, and there is £74 billion of gross value added to British businesses in the net-zero work being done right across the industrial sectors. So it makes sense to do this from an economic and a business point of view. Why would you not want to decarbonise your business or your home? That is why we have to work to hit these carbon budget targets, and there is an economic reason for doing so as well.

[Baroness Bennett of Manor Castle (GP)]

My Lords, I am glad to hear the Minister applauding the net-zero green industries, but how does he square that with the decision by the North Sea Transition Authority—possibly misnamed—to grant 30 companies the right to look for hydrocarbons on sites that had been earmarked for offshore wind?

[Lord Benyon (Con)]

I am not aware of those sites, but it is predicted that, even if all those licences are taken up, there will be a continuing reduction of 7% a year in oil and gas requirements for this country. That is one of the fastest reductions in fossil fuel requirements of any industrialised country.