Environmental Projects Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Bilimoria
Main Page: Lord Bilimoria (Crossbench - Life peer)Department Debates - View all Lord Bilimoria's debates with the Department for Business, Energy and Industrial Strategy
(3 years, 10 months ago)
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Lord Callanan
That is an important issue. We keep things such as the building regulations under constant review, but we need to proceed at a pace that the building industry can cope with and that consumers will accept.
Lord Bilimoria (CB) [V]
My Lords, we welcome the Prime Minister’s emphasis on promoting a green recovery in his “Build, build, build” speech. Will the Minister inform us whether the formation of the Green Investment Bank, launched in 2012 with £3 billion, was key to backing the offshore wind industry? It was sold to Macquarie in 2017. Will the Government form a new green investment bank? What about collaborating with countries such as India, which has set a target of 100 gigawatts of solar power by 2022 to lead the world in solar power? Should we partner with countries such as India?
Lord Callanan
The role of green finance is particularly important; it is one we are working closely on. The former Governor of the Bank of England is leading our efforts on that. Of course, we must partner with many other countries around the world. This is a global challenge and has to be addressed on a global level. India will play a crucial role, as will many other countries.