Green Investment Fund

Lord Stevenson of Balmacara Excerpts

Wednesday 2nd September 2020 Lords Chamber

[Baroness Penn (Con)]

I reassure my noble friend that last week we launched an eligibility checker on the Simple Energy Advice website so that homeowners and landlords can find out what measures they are eligible for. Another important part of making this scheme work is for tradespeople to sign up for TrustMark status to deliver the scheme. We will be investing more in publicising the scheme to tradespeople and those who may benefit over the next few weeks and months.

[Lord Stevenson of Balmacara (Lab) [V]]

My Lords, the Minister mentioned the Clean Growth Fund, but I am right in saying that it is limited to £40 million at the moment, so there is a bit of a gap in the investment required. In July the Energy Minister said that the transition to a greener economy would require a huge amount of investment. Although it might be seen as another U-turn, is the answer not another green bank?

[Baroness Penn (Con)]

The Clean Growth Fund has £20 million of government investment, but that is matched pound for pound by CCLA, one of the UK’s largest charity fund managers. As I referred to in response to previous questions, that is not the limit of the Government’s investment in clean growth, which runs to billions of pounds.