Oral Answers to Questions Debate

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Department: Cabinet Office

Oral Answers to Questions

Barry Gardiner Excerpts
Wednesday 20th July 2022

(1 year, 8 months ago)

Commons Chamber
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Alok Sharma Portrait Alok Sharma
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My hon. Friend raises a very important point. Of course, decarbonising the transport sector, along with other sectors, should be a key priority going forward.

Barry Gardiner Portrait Barry Gardiner (Brent North) (Lab)
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The recent Carbon Tracker report set out the exposure of each financial sector across the world to stranded assets—over $1 trillion in total. Will the COP President be engaging with each of the heads of the financial sectors—such as the Securities and Exchange Commission and the London stock exchange—to ensure that they cope with that problem?

Alok Sharma Portrait Alok Sharma
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The private sector is very focused on the issue of the move to net zero. As the hon. Gentleman will know, in Glasgow, $130 trillion of assets were signed up to net zero. Anyone investing in assets that might end up being stranded has to be very clear about the financial decisions they are taking.