Paris Climate Change Conference

Baroness Liddell of Coatdyke Excerpts

Tuesday 15th December 2015 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, nobody should doubt the commitment of the Prime Minister and the Government to this agreement. The Prime Minister was out there at the start, clearly underlining support and the importance of protecting the small island developing states. He has welcomed this strong agreement. There is no shame attached to this country giving a lead on these issues, as we have on many others over the ages: we should be proud of it. I note what the noble Lord said about the fifth carbon budget. We will be looking at that and responding to it in the first half of 2016, according to the deadline which is set out. There was a commitment to insulation in the manifesto and there are ongoing developments in energy efficiency. The smart meter programme, which is coming on and will be delivered in totality by 2020, will be a strong driver of that policy.

[Baroness Liddell of Coatdyke (Lab)]

My Lords, this is a very considerable achievement. I have been haunted by the image of being at a meeting of the Pacific Island forum and a Minister having to leave suddenly, her parents’ house having been inundated because sea levels have risen much more rapidly than anticipated. The small islands in the Pacific have been on edge about the consequences. The Minister referred to the need for investment. What measures are the Government prepared to take to restore the confidence of the investment community in this country? Just three or four weeks ago, a major investment in carbon capture and storage was pulled out from under their feet. A member of a board which has proper respect for due governance and risk analysis would have to take into account the uncertainty there is now about energy investment decisions. What measures are the Government prepared to take to restore that confidence?

[Lord Bourne of Aberystwyth]

My Lords, the noble Baroness is quite right about the importance of the small islands in the Pacific and elsewhere, such as the Seychelles and the Maldives. It was brought home graphically to me when I met representatives from Tuvalu in the House of Lords during the summer. They said that two degrees was not going to be enough to save them from total obliteration. Although there is a measure of self-interest, it is to the credit of the world that there was a sense of international responsibility for these issues when they came up in Paris.

On the investment issues which the noble Baroness rightly raised, £122 billion is spent annually in the UK on the low carbon economy. It is of extreme and growing significance and we are well aware of it. I repeat that this global agreement has been much welcomed. It gives certainty and sense of direction worldwide, not just in the UK. We have significant investments in the UK which have taken heart from the Government’s decision. An example is Siemens in relation to offshore wind. The point is well made that economic leaders need certainty. I would not disagree with that and it will, obviously, inform our policy.