Caroline Lucas
Main Page: Caroline Lucas (Green Party - Brighton, Pavilion)Department Debates - View all Caroline Lucas's debates with the HM Treasury
(11 years, 7 months ago)
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Danny Alexander
I strongly welcome that report. The Government have already introduced a package of measures, including start-up loans to support new small businesses. Lord Young has presented his findings to the Government and we will respond in due course.
Caroline Lucas (Brighton, Pavilion) (Green)
Given the increasing evidence, such as last month’s Carbon Tracker report, showing that so-called unburnable carbon assets pose a serious risk to the financial system, will the Minister look seriously at the proposal that companies should be required to disclose the carbon emissions potential of their fossil fuel assets?
Greg Clark
The first requirement is to assess the risk that the hon. Lady has described, and it is for the Bank of England to consider the systemic consequences. Should the Financial Policy Committee of the Bank of England conclude that investment in high-carbon assets poses a risk, it would have to report and explain that risk in its financial stability report.