Low and Middle-income Countries: Debt Restructuring

Lord Oates Excerpts

Tuesday 12th March 2024 Lords Chamber

Asked by

[Lord Oates]

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs what consideration he has given to introducing measures to compel private creditors to take part in debt restructuring for low- and middle-income countries facing debt crises.

[Lord Oates (LD)]

My Lords, in begging leave to ask the Question standing in my name on the Order Paper, I declare my interests as set out in the register.

[The Secretary of State for Foreign, Commonwealth and Development Affairs (Lord Cameron of Chipping Norton) (Con)]

My Lords, I have raised this issue directly with the Chancellor of the Exchequer. I completely understand the concern to ensure that private sector debt is fully part of debt restructuring for low and middle-income countries. There is a range of arguments that we should consider on this issue and we need to be mindful of the impact that legislation could have, including on the cost of and access to finance for partner countries.

[Lord Oates (LD)]

My Lords, I thank the Foreign Secretary for that Answer. He will be aware that lobbyists for private creditors made the same arguments ahead of the Debt Relief (Developing Countries) Act 2010, but when the Liberal Democrat-Conservative coalition reviewed the working of the Act in 2011, it found it to be a successful measure with no evidence of unintended or adverse effects. Given that the majority of relevant bonds are governed by English law, will the UK take a lead to ensure that private creditors take part in sovereign debt restructuring on the same terms? Will the Foreign Secretary work with the New York state authorities, which are also considering this issue?

[Lord Cameron of Chipping Norton (Con)]

Obviously, I remember fondly when we were working together in passing the Act to which the noble Lord refers. When that Act was passed there was a real problem with vulture funds acting as hold-outs in debt reconstructions. While there are still arguments for the approach he is taking, we have to ask: will it affect the cost of capital for poorer countries to borrow, will it affect the availability of capital and, crucially, now that we have the collective action clauses and the majority voting provisions, is it still necessary to have this sort of legislation? The IMF reviewed this in 2020 and concluded that things were working well, so there is a concern in my mind that the approach he is talking about is perhaps relevant to what was happening in the past rather than relevant to what is happening now. I think we should keep an open mind on it.

Zimbabwe: Sanctions

Lord Oates Excerpts

Thursday 7th March 2024 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, I assure the noble Lord that part of our approach on sanctions is one element of that: using the levers that we have, in working with key partners, to ensure that the current Government adopt that inclusive approach. The noble Lord is correct: looking at what Africa and particularly Zimbabwe provide, their critical mineral resources are a major opportunity. Zimbabwe is the biggest provider of lithium, along with the DRC. There are opportunities ahead, but it needs a Government who are inclusive and protect the rights not just of those coming in but of their citizens.

[Lord Oates (LD)]

My Lords, the Minister will be aware that ZANU-PF has used the cover of the Zimbabwe-specific sanctions regime as a propaganda tool to excuse its economic mismanagement and corruption, which caused the economic crisis in Zimbabwe. Will the Government consider ending the specific geographic sanctions regime and focusing on the global human rights and corruption sanctions regimes? Will the UK make efforts to step up communications, particularly in the SADC region, to make clear the message that the Minister just gave: that we want to see prosperity for the people of Zimbabwe and that our sanctions are aimed not at them but at the corrupt and the human rights abusers of the ZANU-PF regime?

[Lord Ahmad of Wimbledon (Con)]

I pay tribute to the noble Lord for his work on the APPG. I agree that Zimbabwe has great opportunities, from looking at the people-to-people links with the United Kingdom. Again, it is demonstrable that the sanctions that we and other partners apply are not aimed at either the people or the economy. For example, our trade was £539 million in 2022-23, which is a direct challenge to what is sometimes said—that the sanctions have impacted the economy. What is needed is openness, transparency and accountability. I agree with the noble Lord; we will continue to look at our sanctions regimes. That is why I alluded to the global human rights sanctions regime, which allows us the very targeted sanctions, not just in countries such as Zimbabwe but across the world.

Foreign Affairs

Lord Oates Excerpts

Tuesday 5th March 2024 Lords Chamber

[Lord Oates (LD)]

My Lords, it is a pleasure to follow the noble Baroness, Lady Stroud. I note that, with the noble Baroness, Lady Helic, who follows me, we form a wedge of former coalition advisers on the Order Paper, perhaps placed there as a reminder to the Foreign Secretary of calmer, gentler times, when Prime Ministers lasted their full five-year terms and parties co-operated to solve problems in government rather than tearing themselves apart.

I declare my interests as CEO of United Against Malnutrition and Hunger, trustee of the Royal African Society and chair of the Africa APPG’s inquiry into just energy transition. I associate myself with the excellent speeches of my noble friend Lord Bruce and the noble Lord, Lord Boateng, highlighting the need for a total refresh of UK policy towards Africa.

I will focus most of my remarks on the implications of climate change for our foreign policy, but first I want to say a brief word on Gaza. Over a quarter of Gaza’s population are said to be one step away from famine, almost the entire population are in desperate need of food, and child malnutrition is at catastrophic levels. This cannot continue. As my noble friends on the Liberal Democrat Front Bench and others have argued, there must be an immediate ceasefire.

Sadly, Gaza is not the only place where conflict is fuelling malnutrition. In Yemen, in DRC, in Ethiopia, in Sudan and South Sudan and in Ukraine, conflict has exacerbated a global hunger crisis already driven by climate-related extreme weather events. The impacts of climate change will only worsen. The science is unequivocal: warming is already at 1.1 degrees Celsius above pre-industrial levels and further warming is inevitable, with the 1.5 degrees Paris target almost certain to be breached and probably far beyond that. This is already having huge impacts, through more frequent and longer-duration climate events such as heatwaves, floods, droughts and tropical cyclones.

A few weeks ago I was in Isiolo County in Kenya, visiting impressive projects run by UNICEF to prevent and treat severe acute malnutrition. Isiolo County is only now recovering from prolonged drought, which is becoming more and more common in this part of Africa, creating acute food insecurity for millions.

Every increment in warming will bring escalating hazards for human health and ecosystems. As the APPG on Malaria and Neglected Tropical Diseases notes, changes in precipitation combined with increasing temperatures will alter vector breeding habitats and pathogen development, changing the geographical distribution of diseases, transmission risks, prevalence rates and the virulence of disease. Some 500 million more people could become exposed to chikungunya and dengue by 2050, with a recent UK Health Security Agency report warning that dengue could be transmitted in London by 2060.

Warming is being accompanied by unprecedented biodiversity loss, by increasingly desperate competition for resources and by rising sea levels that threaten massive human dislocation. Our foreign policy needs to shift dramatically to meet this reality.

First and foremost, this means seeing ourselves as others see us, not just as we would like to be seen. It means understanding that lecturing nations that have done little to contribute to climate change, but are most vulnerable to it, on clean energy transition, while granting new oil and gas licences in the North Sea, destroys credibility. It means honouring our pledges on international climate finance. The Independent Commission for Aid Impact recently stated that, to meet the UK’s pledge to spend £11.6 billion on ICF by 2025-26, we need to spend 55% of the total in the next two years. I hope the Foreign Secretary can tell us in his reply whether that is actually going to happen and, if so, how the spend will be profiled.

ICAI also criticised the Government for “moving the goalposts” by changing the way the target will be met, which it said amounted to an additional £1.724 billion being categorised as international climate finance that

“was not new and additional spending for developing countries”.

Again, this is destructive of our credibility in an area we once led on.

We also need to recognise that addressing climate change will require us, as the noble Baroness, Lady Fall, said, to work with Governments and countries we do not like. That does not mean abandoning our values and principles, but it does mean co-operating together for a wider good. The climate crisis poses an existential threat to humanity. We need to face up to that reality and make global co-operation to protect our planet the number one priority of our foreign policy.

Climate Change: Impact on Developing Nations

Lord Oates Excerpts

Thursday 11th January 2024 Lords Chamber

[Lord Oates (LD)]

My Lords, I join others in thanking my noble friend Lady Northover for initiating this debate, and I congratulate the right reverend Prelate the Bishop of Winchester on his eloquent maiden speech. I declare my interests as chief executive of United Against Malnutrition and Hunger, co-chair of the All-Party Parliamentary Group for Africa, and council member of the Royal African Society.

As we have heard, over the past three decades the world has made significant progress in tackling some of the core challenges of development, and the UK’s contribution to that success has been significant. The Department for International Development, now sadly dismantled, was a beacon around the world. The expertise of our academic, scientific and research institutions, and the hands-on knowledge and experience of UK-based INGOs, helped the UK deliver real and lasting impact as part of a sustained global effort to bring about change and progress. That effort brought results. Over recent decades, the proportion of people who were undernourished almost halved. The share of the global population living in extreme poverty fell even more dramatically, from 47% in developing regions to 14%. The incidence rate of TB fell by 17% and of malaria by 40%. The proportion of the world’s population without sustainable access to safe drinking water more than halved. At a global level, gender disparity in education was eliminated.

These are huge successes, and I agree with the noble Viscount, Lord Eccles, that at this time, when the future can seem so bleak and progress can appear almost impossible, it is particularly important that we celebrate this success as a reminder of what we can achieve as a global community if we have the will to do so. Sadly, however, some of these successes have gone into reverse in recent years. As Action Against Hunger pointed out in its excellent briefing, the number of people facing extreme food insecurity is rising, with millions of children dying unnecessarily every year from malnutrition-related causes.

Across the sustainable development goals, progress is well off-track and in several cases has gone into reverse. As the UN Secretary-General has warned:

“Unless we act now, the 2030 Agenda will become an epitaph for a world that might have been”.


The climate crisis is only exacerbating these challenges and, cruelly, the people on the front line are those who have contributed least to climate change and are most vulnerable to its effects.

The facts are stark. The World Bank estimates that climate change could push an additional 100 million people below the poverty line by 2030. The Pentagon describes climate change as a threat multiplier and a key driver of fragility. Stanford University research estimates that climate change has increased economic inequality between developed and developing economies by 25% since 1960. Yet no country in the rich world is acting with anything like the urgency the situation demands. Sadly, the UK’s record in the vanguard of action has now been put at risk as a result of decisions by the current Government in the past year.

The Africa APPG’s inquiry into just energy transition, which is being conducted in conjunction with the Royal African Society and Oxfam, has highlighted the risk of a dangerous disconnect between the global north and global south on what justice means in this context and how it can be delivered. The inquiry has also shown that if we are prepared to work in genuine partnership with the continent, a huge opportunity exists dramatically to increase energy access across Africa, spurring sustainable economic development, while reducing carbon emissions and the health impacts of burning carbon fuels.

For a long time, we talked as if climate change was something that might happen if we did not sort things out soon, but it is not that. It is happening now and has been for a long time. We all know the story about the frog which, if put in a pot of cold water and gently heated to boiling point, will not jump out. Some people say that experiments show that a frog is not so stupid, and these prove the story is not true, but they are wrong. The story is true: it is just that it is not about frogs; it is about humans. The water is literally heating up in the oceans around us, yet we continue to throw fuel on the fire. Now is the time when we have to choose whether to wake up to our responsibilities to the world and to ourselves, and to act with the urgency the moment demands, or to continue to slumber and eventually boil.

Israel/Gaza

Lord Oates Excerpts

Tuesday 24th October 2023 Lords Chamber

[Lord Oates (LD)]

My Lords, when I spoke in a debate in this House on Israel and Palestine just over three years ago, I said I believed:

“The safety and security of Israel is … critical not only for the Israeli people but for the world at large”.—[Official Report, 27/2/20; col. 355.]

After the horrors of the Holocaust and the centuries of prejudice, pogroms and expulsions, to which we must now add the barbarism of 7 October, the ability of the people of Israel to live in safety and security in their own democratic state is, to my mind, essential to the values of a liberal international order.

That safety and security, as we know, was shattered on 7 October in the most brutal and inhumane manner imaginable by the terror group Hamas: young people slain by the hundreds at a music festival, civilians gunned down or burned to death in their homes, babies brutally murdered in their cribs, and the terrifying footage of Jewish people—citizens of Israel and countries around the world—seized, paraded before the cameras and dragged away to an unknown fate. I know how those images impacted on me. I can only begin to imagine their impact on Israeli citizens and Jewish people around the world—the worst outrage and greatest act of inhumanity against Jewish people since the Holocaust. On that Saturday, I was in touch with a friend sheltering in a bomb shelter in Israel. She later told me that every one of her children knew a teen who had been killed.

In carrying out its attack and in continuing to hold hostages, Hamas is in violation of every international law and of every value that we should hold dear. Those hostages, as other noble Lords have said, must be released unconditionally and immediately. It is beyond me that there are those who could not find it in themselves to unequivocally condemn Hamas after these outrages. That anyone, regardless of their views on Israel and Palestine—and like the noble Lord, Lord Austin, and many others in this House, I have always supported the creation of a Palestinian state—would actually seek to justify such grotesque brutality remains utterly shocking, as does the wave of anti-Semitism that has been witnessed in this country in recent days.

For as long as I can remember, I have felt an affinity with Israelis and Palestinians. My father was an emissary to the then Anglican Archbishop of Jerusalem, George Appleton, in the late 1960s and early 1970s; in fact, he baptised me. In that role my father travelled extensively in the region and, until his death earlier this year, he never ceased in his passionate advocacy for a peace that would allow both Israelis and Palestinians to live in security in their own states—a passion that he imparted to me.

I have been privileged to visit Israel with the Liberal Democrat Friends of Israel with my noble friend Lord Palmer and other colleagues. I am proud to count myself as a friend of Israel and as a friend of Palestine. In fact, I do not believe that you can truly be one without being the other, just as I do not believe that long-term security can exist for either Israelis or Palestinians until it exists for both.

In the face of the barbarous assault on its citizens, Israel has every right in law and morality to take action to eliminate the threat to its people from Hamas. The issue at stake is not whether Israel has that right but how it exercises it in the manner most likely to prevent avoidable civilian death and secure the long-term safety and security of both Israeli and Palestinian people. Whatever the outcome of this war, at the end of it Israelis and Palestinians will have to live side by side. Israel will have to put aside the dangerous delusion that Prime Minister Benjamin Netanyahu seemed to suggest—that Israel could live in security without justice also for Palestinians.

In the immediate moment, Israel needs a military strategy to successfully eliminate Hamas terror. That will be hard enough but, even more importantly, it needs a strategy for how it proceeds at the end of the war. It needs a strategy for peace. After the 1967 war, Israel’s founding Prime Minister David Ben-Gurion, speaking in the Knesset, said:

“our standing in the world will be determined not by our so-called material riches, and not by our military's bravery, but by the moral virtue of our undertaking”.

In the midst of such horror and so many terrible dilemmas for Israeli decision-makers, it is essential that Israel heeds those words. The attachment that many of us have to Israel is precisely because it holds itself to different standards from other regimes in the region. It is essential that, in its response to Hamas, it upholds those standards, abides by international law and allows sufficient humanitarian assistance to reach the civilians of Gaza, who are also victims of Hamas brutality and are suffering devastating hardship.

It is also critical that the Israeli Government act decisively against those settlers in the West Bank who are unleashing violence on Palestinians that has left many innocent Palestinians dead. As the noble Lord, Lord Howard, said in his powerful speech, every life is precious, and every one of the thousands of deaths of innocent civilians is a tragic loss for mothers, fathers, brothers, sisters, sons and daughters.

I support our Government in having stood with Israel in these days of terror, and I fully accept that Israel cannot live in safety with Hamas in control of Gaza. But neither will it live in safety unless the Israeli and Palestinian leadership recognise that, after the war, they must both have the courage to throw aside extremists and make the compromises necessary to deliver a just and lasting peace.

Zimbabwe: Election

Lord Oates Excerpts

Tuesday 5th September 2023 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

I answered the noble Baroness’s question in part in response to my noble friend, but I agree with her. I commend her efforts, and those of all the observer missions, in observing the election. We hope that, ultimately, inclusive and pluralist democracies emerge, and that Zimbabwe can find its way back into the Commonwealth.

[Lord Oates (LD)]

My Lords, in light of the developments in Zimbabwe—the widespread violence and intimidation of voters in the rural areas, the abduction and torture of many opposition activists and the continued detention of opposition Members of Parliament—will the UK Government be rather less equivocal and make absolutely clear that they do not regard these elections as free and fair and that the Government of Zimbabwe have no legitimacy? Will they make clear that, as long as this is the case, it will not be readmitted to the Commonwealth, as far as Britain is concerned, and that we will work with SADC colleagues to try to find resolutions to the problem?

[Lord Ahmad of Wimbledon (Con)]

My Lords, I commend the noble Lord’s work as an observer of Zimbabwe, and I am sure that he has seen the two statements that we have issued since the elections. I agree with him about the importance of working with key regional partners, including SADC, which is very much deployed and making the same representations that we are, along with other key interested parties, to ensure that there is a pluralist approach when it comes to democracy. Democracy needs stability, security and inclusivity to be sustainable—that point has been made consistently to the Zimbabwean authorities.

International Anti-corruption Court

Lord Oates Excerpts

Thursday 6th July 2023 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, while I appreciate the long-standing commitment and work of the noble Lord, where I disagree with him is that I believe that much has been achieved and is being done. As I said, we have consulted on this issue extensively; we continue to engage with the countries the noble Lord listed that are involved in the development of this concept. At the same time, as he and other noble Lords may be aware, the UK’s international corruption unit is a world-leading capability; it was set up in 2017 alongside the Five Eyes plus others. Much has been achieved: since 2017, the unit has received 247 referrals of grand corruption from over 40 countries and, as a result, has disseminated 146 intelligence reports, identified £1.4 billion-worth assets, and supported the freezing of £623 million-worth of assets and the forfeit and confiscation of £74 million. As I have said, our work continues. In 2022 alone, intelligence collated across these jurisdictions supported the identification of a further £380 million in stolen assets. We are working, and we are working in co-ordination. I appreciate the strong work the noble Lord has done in this area, but, as I have said, an international institution can be set up, as he will know from his own ministerial experience, only with the support of a broad range of partners. The Five Eyes partners are crucial, and we are working very closely with them.

[Lord Oates (LD)]

My Lords, in his speech at Chatham House earlier this year, the Development Minister, Andrew Mitchell, pledged that the Government would

“bear down on … the flows of dirty money which … represent money stolen particularly from Africa and African people”.

Can the Minister tell the House what steps the Government are taking to achieve that objective? Would not the establishment of an IACC play a key role in such efforts? The Minister said that world opinion is not in the right place, so could he tell us what he and the Government are doing to lead on this issue to ensure that we get to a point where world opinion is in the right place?

[Lord Ahmad of Wimbledon (Con)]

My Lords, this is an ever-evolving challenge, and I fully accept the principle that more needs to be done; we continue to work on that. The noble Lord raised issues about Africa, so I will give examples of the international corruption unit’s success. In March 2021, the first £4.2 million of assets stolen by James Ibori, the former governor of Delta state, were returned to Nigeria. In Malawi, the dual UK-Malawian national Zuneth Sattar is alleged to have defrauded the Malawian Government of billions of kwacha. The ICU has seized 19 properties in the UK, as well as cars, including a Lamborghini and a Bentley, owned by Mr Sattar. Those are two examples; in Angola and Nigeria, the Government and this unit have seen other successes. I assure all noble Lords that we continue to be very seized of these and are working very closely with our key partners. We have seen results since the establishment of the unit in 2017.

Zimbabwe

Lord Oates Excerpts

Thursday 6th July 2023 Lords Chamber

Asked by

[Lord Oates]

To ask His Majesty’s Government what representations they have made to the government of Zimbabwe regarding the detention of opposition Deputy Chairperson and Member of Parliament Job Sikhala, who has been incarcerated for over a year in Chikurubi Maximum Security Prison and denied bail on 15 occasions.

[The Minister of State, Foreign, Commonwealth and Development Office (Lord Ahmad of Wimbledon) (Con)]

My Lords, the United Kingdom is concerned by the ongoing detention of government critics in Zimbabwe, including Job Sikhala MP. The Minister of State for Development and Africa raised these concerns, and the case of Job Sikhala specifically, with Zimbabwe’s President Emmerson Mnangagwa, when they met in the margins of His Majesty the King’s Coronation last month.

[Lord Oates (LD)]

My Lords, I thank the Minister for that Answer. I welcome to the Public Gallery Steven Van Zandt and Jerry Dammers, musicians and songwriters who have done so much to campaign for freedom and justice in southern Africa. Does the Minister agree that today freedom and justice are under vicious assault in Zimbabwe? Will he and his ministerial colleagues work with SADC Ministers and the Commonwealth to make it clear to ZANU-PF that there can be no return to normal relations until Job Sikhala and all political detainees are released, political violence stops, and genuinely free and fair elections take place?

[Lord Ahmad of Wimbledon (Con)]

My Lords, first, I acknowledge the noble Lord’s insights and expertise on all issues to do with Zimbabwe. He knows the country very well, and I appreciate his tabling of the Question. With regard to the specific issue of human rights and the importance of progressing on human rights before the elections on 23 August, I assure the noble Lord that we are engaging with all key partners. As he is aware, Zimbabwe is very keen to progress its membership of the Commonwealth, and human rights are a pertinent part of that assessment. I know that we are working very closely with the secretariat in that respect. Ultimately, if Zimbabwe rejoins the Commonwealth, it will be a matter for all members of the Commonwealth, so it needs a cross-Commonwealth approach.

I assure the noble Lord also that we are fully seized with the different abuses of human rights, which regrettably and tragically continue to happen. Even this morning, I have heard of further arrests in that respect. The information is still coming through, but I am aware of further arrests that have been made. We have called for full transparency and the release of those being held in an arbitrary fashion and, indeed, when cases are being pressed, that those court cases are held in a transparent form.

Sudan

Lord Oates Excerpts

Wednesday 26th April 2023 Lords Chamber

[Lord Goldsmith of Richmond Park (Con)]

First, I echo the noble Lord’s remarks on the bravery of our service men and women. I made that point in my opening remarks, but it is absolutely right that it should be amplified. I extend that to staff in the FCDO who have been working around the clock for the staggering commitment they have shown in recent days and weeks.

I do not recognise the approach that the noble Lord has just conveyed. Our post-Brexit position in the world does not translate, and has never translated, into isolationism in the way that he implies. We recognise that challenges such as this cannot be solved by the UK working alone. We have been working across the board, with allies across the European Union and beyond, and will continue to do so.

[Lord Oates (LD)]

What discussions are the Minister and his colleagues having with colleagues in the Home Office regarding the issuing of visas to immediate family members of British nationals? We hear reports that British nationals are unable to leave because very close relatives, such as mothers, are being refused visas by the Home Office. Could he urge his colleagues in the Home Office to take a compassionate approach and to act urgently, given the urgency of the situation?

[Lord Goldsmith of Richmond Park (Con)]

I personally have not had discussions with the Home Office. Undoubtedly, the Minister for Africa will have done so, but I will make sure that the noble Lord’s message is fed back to the Home Office. He makes a valid point.

Climate Change in Developing Countries

Lord Oates Excerpts

Thursday 30th March 2023 Lords Chamber

[Lord Oates (LD)]

My Lords, I join others in thanking the noble Lord, Lord Naseby, both for initiating this debate and for his excellent speech. I also thank noble Lords on all sides for their excellent contributions. I declare my interest as the chief executive of United Against Malnutrition and Hunger.

There are three principal arguments that I want to make today. The first is that, although the UK—under Governments of all colours—has been in the vanguard of climate leadership, there is still a huge gap between where we are and where we need to be. The fact that the gap is even greater for some other industrial nations is no excuse for us.

Secondly, the people who are on the front line of the world’s failure to act are those who have contributed least to climate change and are most vulnerable to its effects. Unless the UK and the rest of the industrialised world radically adjust our economic approach, we are going to bring further misery upon those countries and their people and, ultimately, ourselves.

Thirdly, there is a real danger that “green” is becoming a dirty word in many front-line climate states, where there is growing anger at the rich world’s failure to act, our tendency to lecture and our refusal to take responsibility for the damage that has already been and continues to be done.

The facts, as we have heard, are stark. According to the World Meteorological Organization’s report, Provisional State of the Global Climate 2022, the rate of sea level rise has doubled since 1993 and the 10-year average warming for the period 2013 to 2022 is now estimated to be 1.14 degrees Celsius above the pre-industrial baseline, compared with 1.09 degrees Celsius between 2011 and 2020. Further, ocean heat was at record levels in 2021—the latest year that it was assessed—and the upper 2,000-metre depth of the ocean continues to warm, a change that is irreversible on centennial to millennial timescales. The World Bank estimates that climate change could push an additional 100 million people below the poverty line by 2030. The Pentagon describes climate change as a “threat multiplier” and a “key driver of fragility”. Stanford University research estimates that climate change has increased economic inequality between developed and developing economies by 25% since 1960.

Meanwhile, millions of people in Africa, Asia and Latin America are being pushed into food crises by extreme climate events, the frequency of which has doubled since 1990. Indeed, in the short time that we are taking for this debate alone, 354 children will have died of malnutrition. This crisis is being exacerbated by climate change; and of course, as the most reverend Primate highlighted, the climate is having an impact on migration and conflict.

Yet no country is acting with anything like the urgency that the situation demands. Today, we have had an announcement from the Government that has, I am afraid, only underscored the chasm that exists between rhetoric and reality. As I say, in the front-line climate states, there is a growing sense of anger and cynicism as a result. I was recently in South Africa as part of a Commonwealth Parliamentary Association delegation, and I was struck by how insulated we are from that sense of anger and injustice, which is felt not just in South Africa but across the continent.

Countries are tired of being told to keep their carbon wealth in the ground by people who got rich off the back of burning theirs and continue to do so, and who refuse to compensate developing economies for keeping theirs in the ground or to help finance the transition to new energy sources. These countries want climate justice, which for them means recognition of loss and damage, and compensation, not just concessionary finance or no finance at all. As Oxfam’s briefing pointed out, while COP 27 achieved a historic breakthrough in establishing a fund for loss and damage, how this is operationalised will be critical.

The noble Baroness, Lady Blackstone, mentioned our membership of the Transitional Committee and how important it is that we play a progressive role in that. However, as a country, we have yet to make a financial commitment for loss and damage, and our climate finance, which was meant to be additional to overseas development assistance, has come entirely from our depleted ODA funding. The UK International Climate Finance Strategy, published today, seems to continue to take this position. I would be grateful if the Minister could tell us whether the £11.6 billion mentioned in the statement is new money or money coming from existing resources?

We need to get real. We need to think much more profoundly about what things such as the Just Energy Transition Partnership with South Africa mean, and what climate justice means. Certainly, many in South Africa feel that “justice” and “partnership” are far more evident in rhetoric than in reality. For a long time, we have talked as if climate change were something that might happen if we did not sort things out soon. But it is not; it is something that is happening now. The water is literally heating up around us, and the tragedy is that the first victims are those least responsible and most vulnerable. That surely is a morally unsustainable position. As the noble Lord, Lord Naseby, concluded, it is time to stop talking and start acting with the urgency required. Otherwise, humanity faces its greatest calamity.