Jerome Mayhew
Main Page: Jerome Mayhew (Conservative - Broadland and Fakenham)Department Debates - View all Jerome Mayhew's debates with the Cabinet Office
(2 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Alok Sharma
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.
Jerome Mayhew (Broadland) (Con)
Does my right hon. Friend agree that establishing a price for carbon would give the free market the signal it needs to invest in low-carbon alternatives across the economy? Does he also agree that a carbon border adjustment mechanism is a necessary first step to achieve that?
Alok Sharma
I know my hon. Friend has raised this issue previously. Tackling carbon leakage is a vital matter. As he is aware, Her Majesty’s Treasury will be launching a consultation later this year and setting out a range of carbon leakage mitigation options, which includes looking at a carbon border adjustment mechanism.