Baroness Altmann
Main Page: Baroness Altmann (Conservative - Life peer)Department Debates - View all Baroness Altmann's debates with the Leader of the House
(2 years, 9 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Baroness Bloomfield of Hinton Waldrist (Con)
I am not sure that I can go any further than my noble friend Lord Callanan did yesterday, but I take the noble Baroness’s points on board and will make sure that they are relayed to BEIS.
Baroness Altmann (Con)
My Lords, I congratulate the Government on all the excellent work they are doing in preparation for COP 29 and in the Environment Bill. Will my noble friend tell the House what the Government are doing to increase funding for nature-based solutions to address climate impact, especially as I understand investing in nature could provide at least one-third of the cost-effective climate mitigation solutions?
Baroness Bloomfield of Hinton Waldrist (Con)
My noble friend is entirely right: investing in nature-based solutions for adaptation will also help build resilience, support jobs, support livelihoods and help tackle biodiversity loss, but finance is lacking. Only 3% of global public climate finance flows was spent on nature. Noble Lords will recall that at the One Planet Summit in January 2021 the UK committed to spend at least £3 billion of our international climate finance on climate change solutions that protect and restore nature and biodiversity over the next five years.