Greenhouse Gas Emissions: Developed Countries

Baroness Boycott Excerpts

Monday 7th November 2022 Lords Chamber

[Baroness Neville-Rolfe (Con)]

I thank my noble friend for his constructive suggestion. I believe in the power of technology. The point he makes about carbon capture and storage is absolutely on the money. We have seen leaps forward which have helped us with tackling climate change on everything from electric vehicles to wind turbines, solar power, LED lighting, hydrogen and new nuclear. Carbon capture and storage are in the same category. Areas like these are where businesses can come together with Governments to innovate, drive things forward and then get them copied in lots of different countries around the world. Climate change is an international phenomenon; sadly, carbon and greenhouse gas emissions have no borders.

[Baroness Boycott (CB)]

My Lords, last week we had a briefing from the President of the Maldives. He pointed out that, of the 100% of GDP, they spend 30% on adaptation due to the fact that the islands are being trashed by hurricanes and sea-level rises, and they are spending a further 25% on debt relief—the debt that they incurred in building infrastructure, roads and hospitals, which are now being washed away by the climate crisis. Do the Government think that there is any value in trying to work towards debt relief for nations such as this, given that the international community cannot yet come up with the £100 billion that we agreed last year in Glasgow for situations just like this?

[Baroness Neville-Rolfe (Con)]

We are open to innovative solutions. This is another one that has come forward from the Maldives, which I have only just heard about. It is obviously right that hurricanes and monsoons and things make it difficult for countries such as the Maldives and other small islands to deal with their debts; in any financing, we would need to make sure that the result helped with climate change alleviation, but I am very happy to learn more.