Green Investment Fund

Baroness Jones of Moulsecoomb Excerpts

Wednesday 2nd September 2020 Lords Chamber

Asked by

[Baroness Jones of Moulsecoomb]

To ask Her Majesty’s Government what is the total amount of public investment in carbon intensive sectors, including air travel, car manufacturing and road building; and what comparison they have made between that level of investment and the amounts available to the Green Investment Fund.

[Baroness Penn (Con)]

My Lords, the Government are committed to a green recovery with concern for our environment at its heart. This summer we announced £2 billion for the green homes grant to help people to reduce energy bills and cut carbon, and £2 billion over the course of this Parliament to increase walking and cycling.

[Baroness Jones of Moulsecoomb (GP)]

I thank the Minister for her reply. What I was trying to ferret out with this Question was the discrepancy between the Government’s support for environmentally damaging sectors of the economy and the tiny amounts of money given to green sectors. We are in a climate emergency. The Green Party has a fully costed manifesto, and I would be happy to sit down with the Minister to go through some policies that would pay dividends in recovering our environment.

[Baroness Penn (Con)]

My Lords, our economy is not yet in a net-zero status, so to support the economy during the time of coronavirus we have invested in sectors that might contribute carbon. However, I disagree with the noble Baroness about the level of investment that the Government have put into green recovery. In addition to the £4 billion that I just referred to, there is an extra £1 billion for ultra-low emission vehicles and £800 million for carbon capture and storage, in addition to the Clean Growth Fund and a new future homes standard, which will align with the fact that we are planning to build, build, build to get the clean homes that we need.