Fossil Fuels: Business

Lord Grantchester Excerpts
Thursday 19th November 2020

(3 years, 4 months ago)

Lords Chamber
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Lord Callanan Portrait Lord Callanan (Con)
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As I just said in answer to a previous questioner, the North Sea is vital to our economy and the transition. We will work closely with those companies, and already have some world-leading commitments from many on how they are taking forward the decarbonisation agenda.

Lord Grantchester Portrait Lord Grantchester (Lab)
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My Lords, now in its fourth year of monitoring, the Transition Pathway Initiative reports that companies make progress rather slowly and that only 18% are aligned with even the benchmark of below 2 degrees. It has also reported that climate science dictates that the pathway matters, not just the endpoint. Can the Minister explain why, in the scatter-gun 10-point environment plan, there is no mention of the oil and gas sector deal promised in the Conservative Party manifesto? It is meaningless without another of the missing strategy frameworks—the heat strategy.