Green Investment Fund

Lord Browne of Ladyton Excerpts

Wednesday 2nd September 2020 Lords Chamber

[Baroness Penn (Con)]

The Government remain completely committed to the commitments they made in Paris. Emissions are falling and the Government set out in their carbon budgets their plan to meet their targets in each period that those carbon budgets cover.

[Lord Browne of Ladyton (Lab) [V]]

My Lords, success for the £800 million of public investment in carbon capture and storage that the Minister referred to depends on a credible business model; the previous two competitions failed because of the absence of one. When will the Government publish their response to the eight-week consultation on CCUS business models that ended a year ago?

[Baroness Penn (Con)]

I am afraid I do not have a date for the noble Lord for the response to that consultation, but I can say that at Spring Budget 2020 the Government announced at least £800 million to support this sector in two industrial clusters. We aim to have the first one up and running by the mid-2020s.