Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government, further to their press release Cheaper travel for millions with a third off fares, published on 22 July, what assessment they have made of their ability to claw back funding from the international climate finance projects for which the United Kingdom’s contribution will now take the form of a loan.

Answered by Baroness Curran - Parliamentary Under-Secretary of State (Department for Energy Security and Net Zero)

The Government is not clawing back funding from existing international climate finance projects. The £400 million relates to switching grant funding that had been set aside for future international climate finance projects into loans, providing more flexible ways to meet the Government’s international climate objectives. The terms of any loans, including expected repayment arrangements, will depend on the final design of individual investments and will be considered in line with normal value for money and Official Development Assistance requirements.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government, further to their press release Cheaper travel for millions with a third off fares, published on 22 July, what is the itemised breakdown of the £454 million funding reprioritised from the budget of the Department for Energy Security and Net Zero.

Answered by Baroness Curran - Parliamentary Under-Secretary of State (Department for Energy Security and Net Zero)

The Government is reprioritising £454 million from the Department for Energy Security and Net Zero’s budget, including by switching £400 million of grant funding set aside for future international climate finance projects into loans, which could include projects such as the Tropical Forests Forever Facility. The remaining £54 million savings are expected from underspends in the Department’s budget.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government, further to their press release Cheaper travel for millions with a third off fares, published on 22 July, whether any conversations have been held with representatives of nations which were to receive funding through international climate finance where the funding is now being converted into loans; and if so, what are the details of those conversations.

Answered by Baroness Curran - Parliamentary Under-Secretary of State (Department for Energy Security and Net Zero)

The Government is switching £400 million of grant funding set aside for future international climate finance projects into loans, providing more flexible ways to meet the Government’s international climate objectives. Discussions with partner countries on international climate finance take place as part of normal programme development and delivery processes. Any engagement relating to future investments will depend on the design and approval of individual investments.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government whether they have provided any funding to the Tropical Forests Forever Fund.

Answered by Baroness Curran - Parliamentary Under-Secretary of State (Department for Energy Security and Net Zero)

The Tropical Forests Forever Facility (TFFF) represents a critical evolution in forests finance, which is why the Government has been pleased to steadfastly support its development, including by pledging £2.5m to support the establishment of the Fund. Switching funding that had been set aside for international climate finance projects from grants into loans allows DESNZ to make £400m of financial transactions available to support the government's intention to invest in international climate finance projects, which could include projects such as TFFF. I will keep the House updated on the Government’s decision to invest in TFFF.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government further to their press release Cheaper travel for millions with a third off fares, published on 22 July, to which specific international climate finance projects has the United Kingdom’s contribution been converted to loans.

Answered by Baroness Curran - Parliamentary Under-Secretary of State (Department for Energy Security and Net Zero)

The Government is reprioritising £454 million from the Department for Energy Security and Net Zero’s budget, including by switching £400 million of grant funding set aside for future international climate finance projects into loans, which could include projects such as the Tropical Forests Forever Facility. This will provide more flexible ways to meet the Government’s international climate objectives. The Government remains committed to spending 0.3% of Gross National Income on Official Development Assistance.

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government, further to their press release Cheaper travel for millions with a third off fares, published on 22 July, whether climate finance grants are being converted into loans to pay for this announcement; and, if so, which grants are being so converted.

Answered by Baroness Curran - Parliamentary Under-Secretary of State (Department for Energy Security and Net Zero)

The Government is reprioritising £454 million from the Department for Energy Security and Net Zero’s budget, including by switching £400 million of grant funding set aside for future international climate finance projects into loans, which could include projects such as the Tropical Forests Forever Facility. This will provide more flexible ways to meet the Government’s international climate objectives. The Government remains committed to spending 0.3% of Gross National Income on Official Development Assistance.