Asked by: Lord Harlech (Conservative - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government, further to the Written Answer by the Minister of State for Energy Security and Net Zero on 29 January (HC107822), whether they are still considering investing through British international investment in 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.
Asked by: Lord Harlech (Conservative - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government, further to the press release of 22 July, Cheaper travel for millions with a third off fares, what the repayment schedules for the United Kingdom’s loans to international climate finance projects will be; and which projects these will include.
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, which could include projects such as the Tropical Forests Forever Facility. This provides more flexible ways to meet our international climate objectives. The terms, repayment schedules and interest rates of any loans 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.
Asked by: Lord Harlech (Conservative - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government, further to the press release of 22 July, Cheaper travel for millions with a third off fares, what the interest rates of the loans the United Kingdom will make to international climate finance projects will be; and which projects these will include.
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, which could include projects such as the Tropical Forests Forever Facility. This provides more flexible ways to meet our international climate objectives. The terms, repayment schedules and interest rates of any loans 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.
Asked by: Lord Harlech (Conservative - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government, further to the press release of 22 July, Cheaper travel for millions with a third off fares, what the terms will be of the loans the United Kingdom will give to international climate finance projects, and which projects these will include.
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, which could include projects such as the Tropical Forests Forever Facility. This provides more flexible ways to meet our international climate objectives. The terms, repayment schedules and interest rates of any loans 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.