Clean Growth Fund Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Moynihan
Main Page: Lord Moynihan (Conservative - Excepted Hereditary)Department Debates - View all Lord Moynihan's debates with the Department for Business, Energy and Industrial Strategy
(3 years, 6 months ago)
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Lord Callanan (Con)
I agree with the noble Baroness and we will work closely with many other funds. The fund will make direct equity investments in UK-based companies that want to scale their promising green technologies.
Lord Moynihan (Con)
My Lords, I am always sceptical of government picking winners, especially where the issue is not a shortage of private sector investors but too few profitable projects to finance. That said, will my noble friend maintain the Government’s focus on sustainable and resilient supply chains for energy, food, water and raw materials and transparently provide clarity with their co-investors on the criteria that cannot be met exclusively through private sector funding mechanisms?
Lord Callanan (Con)
Of course, my noble friend is correct to be sceptical, but we want to capitalise on the opportunity presented by the growing low-carbon global economy and we want to capitalise private investment into the UK clean growth sector.