Surplus Carbon Emissions

Lord Lennie Excerpts
Wednesday 27th March 2024

(7 months, 2 weeks ago)

Lords Chamber
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Lord Callanan Portrait Lord Callanan (Con)
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There is a degree of truth to what the noble Lord says. I do not characterise it as our having de-industrialised; we have some very successful manufacturing industries in this country, many of them low-carbon industries. Of course, the issue of carbon leakage is important, and it is one reason why we have committed to introducing a carbon border adjustment mechanism; we are currently consulting on the precise make-up of that. However, the noble Lord is right that it is a factor.

Lord Lennie Portrait Lord Lennie (Lab)
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What impact will the Offshore Petroleum Licensing Bill have on our ability to meet future carbon budgets?

Lord Callanan Portrait Lord Callanan (Con)
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As we debated extensively last night, it will have a negligible impact.