Net Zero Review
Debate between Baroness Penn and Baroness Lane-Fox of Soho
Baroness Penn (Con)
My Lords, I cannot pre-empt the findings of the review, but I can say that it will absolutely take into account the opportunities that arise from the transition, including for employment, productivity and economic growth. It will also consider just where the costs will fall and how they will be paid for.
Baroness Lane-Fox of Soho (CB) [V]
I draw attention to my interests in the register. To build on the point made by the noble Lord, Lord Teverson, about citizen engagement, the citizens’ Climate Assembly UK made many great recommendations when it recently reported, many around business, which is vital to help reach net zero. Will the Government commit—as the citizens’ assembly, at 83%, agreed—to making sure that government contracts are given to responsible, low-carbon producing suppliers?
Baroness Penn (Con)
My Lords, the Government will look very closely at the recommendations of the Climate Assembly. The noble Baroness is absolutely right to say that we need businesses to be on board with this agenda. One of our focuses for COP 26 is green finance, and one of our aims there is to get as many private sector actors and businesses as possible subscribed to standards for green finance that can help transform the money going into businesses and how it is allocated, taking into account climate risk, in the future.