COP27

Richard Fuller Excerpts

Wednesday 9th November 2022 Commons Chamber

[The Prime Minister]

On loss and damage, I have already made the point that we established the Glasgow dialogue to see how best to take forward those discussions. I will not pre-empt the discussions happening at COP, but that is not the same as reparations—I think the hon. Lady understands that—which is not what is on the table. That is clear in the language that is being debated at COP.

[Richard Fuller (North East Bedfordshire) (Con)]

At COP26, the Prime Minister was successful in mobilising hundreds of billions in international private capital to support the challenge of net zero, which seems a much better deal than Labour’s plan, which would place a huge burden on British taxpayers. What further steps will my right hon. Friend take to consolidate London’s leadership as a centre for green finance?

[The Prime Minister]

My hon. Friend knows this well. Indeed, he was responsible for the retail green sovereign bond that we issued here—we were the first country in the world to do so—and he deserves credit for that. I am pleased that for, I think, the second or third year in a row, London has been named the world’s leading place for green finance. We are taking forward a range of initiatives around disclosures to make that even more of an advantage for us, including more carbon trading. I look forward to getting his advice on how we can make that aspiration a reality.