G20 and COP26 World Leaders Summit

Geraint Davies Excerpts

Wednesday 3rd November 2021 Commons Chamber

[Geraint Davies (Swansea West) (Lab/Co-op)]

Six per cent. of global GDP is spent on fossil fuel subsidies, which is destroying our planet, and China spends more on them than the United States, Russia and the European Union combined. Will the Prime Minister take leadership in reducing fossil fuel subsidies? In particular, will he support the carbon border taxes that are being promoted by the EU, so that, for instance, UK steel made in Wales is not displaced by Chinese steel made from coal, which has twice the carbon footprint, and we can protect local jobs and save the planet through greener trade?

[The Prime Minister]

I think that our steel companies have done a great job in trying to reduce their carbon footprint. That is extremely hard for steel corporations, because they are one of the biggest emitters that we have. We must move towards zero-carbon steelmaking, while keeping a steelmaking industry in this country. The measures that the hon. Gentleman has described—such as the carbon border adjustment levy—are certainly worth considering.