Green Climate Fund

Lord Tomlinson Excerpts

Monday 27th October 2014 Lords Chamber

[Baroness Verma]

My Lords, the UK Government asked for a 40% carbon emissions ambition to be reached. That is something the Prime Minister put forward earlier this year. I am glad to say that all the European countries have agreed to that 40% greenhouse emissions target.

[Lord Tomlinson (Lab)]

May I ask the Minister to return to the question asked by the noble Lord, Lord Tebbit? It is a very pertinent question. Is the money that is going to be pledged in November already in the Budget, or is it to be an increase in the borrowing that the Government will have to undertake, at a time when they have just hit a record for the amount of borrowing?

[Baroness Verma]

My Lords, we are clear that we need a Green Climate Fund. We will use a number of financial instruments to be able to achieve that.