Fossil Fuels: Business Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Sarfraz
Main Page: Lord Sarfraz (Conservative - Life peer)Department Debates - View all Lord Sarfraz's debates with the Department for Business, Energy and Industrial Strategy
(4 years, 1 month ago)
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Lord Sarfraz (Con)
My Lords, significant investment will be required by energy-intensive industries moving to net zero. Will the Minister advise the House on efforts being made downstream to ensure that these businesses remain competitive in price-sensitive international markets where the competition might not play by the same rules?
Lord Callanan (Con)
The noble Lord makes a very good point. We recognise that currently the costs of decarbonisation technologies are very high in many industries and many businesses are unable to pass on the increased costs of decarbonisation to consumers. That is why we are working very closely with industry and addressing this is one of the key aims of our industrial decarbonisation strategy.