Climate Change: Phasing Out Fossil Fuels

Baroness Blackstone Excerpts

Wednesday 6th December 2023 Lords Chamber

[Lord Callanan (Con)]

I thank the noble Lord for his good wishes, but I am very happy to be in the House answering noble Lords’ questions rather than being in Dubai. Two members of my department have been there. I do not recognise the picture the noble Lord presents. I regularly meet international investors; we have one of the largest investment flows of green finance into the UK of any industrialised country and one of the largest in Europe. Our sectors—solar, offshore wind, hydrogen and CCUS—are all benefiting from enormous flows of inward investment, which we welcome. The Global Investment Summit a couple of weeks ago saw a further £30 billion of commitments, so I am afraid the noble Lord is just wrong.

[Baroness Blackstone (Lab)]

My Lords, last week at COP the Prime Minister said the UK is

“delivering on the historic Glasgow deal to end deforestation”.

When will the relevant regulations under the Environment Act be laid? It is now two years since it received Royal Assent, since when the EU has agreed more ambitious rules on deforestation. I hope the Minister will say that the regulations are imminent.

[Lord Callanan (Con)]

The responsibility belongs in a different department so I am not sure of the exact date of the regulations the noble Baroness refers to, but I will certainly write to her on that.