Overseas Development Assistance: Fossil Fuel Subsidies

Baroness Jones of Moulsecoomb Excerpts

Tuesday 15th May 2018 Lords Chamber

[Lord Bates]

I will absolutely do that. Solar offers enormous potential. Not only is it a clean energy but, as technology advances, we see the cost of solar tumbling compared to other fuel supplies. The opportunity to achieve economic growth and development and to meet our climate change obligations is immense, and we are delighted to be able to partner other countries in delivering that.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, organisations all over the world are taking responsibility for their spending on fossil fuels. Will this Government do a full audit of their spending on fossil fuels and their investments—for example, pensions? They could then assess their impact on climate change and air pollution.

[Lord Bates]

This country has done more than most to advance and drive its position towards clean growth. Just last year we had the launch of the Clean Growth Strategy and we put £2.5 billion—a record amount of investment—into innovation and technology that will help us meet those obligations. We have said that coal-fired power stations will be phased out by 2025, so we are doing a lot. Through the International Climate Fund we are doing more for the poorest in our world as well.