South Africa: Just Energy Transition Partnership Debate
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Lord Bellingham
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South Africa: Just Energy Transition Partnership
Lord Bellingham Excerpts(2 years, 4 months ago)
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Lord Bellingham (Con)
My Lords, given that the UK and the other four participants have committed to providing a staggering $8.5 billion, part of which will be used to mobilise the private sector, does the Minister agree with me that it is vital that innovative UK firms play a part in this? What is UK Trade & Investment going to do to assist those firms?
Lord Ahmad of Wimbledon (Con)
My Lords, as I said to the noble Lord, Lord Oates, I agree, and we are very much at one. Perhaps I did a slight injustice in the brevity of my Answer to the noble Lord, Lord Oates: I pay tribute to his excellent work in re-establishing the APPG.
On my noble friend’s question, the United Kingdom has given a specific commitment to the partnership: of the overall initial $8.5 billion of public capital, the United Kingdom is providing $1.8 billion. We will be looking to see how we can leverage further financing in providing the terms needed to make that crucial energy shift from coal to more sustainable sources.