Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, how much government funding has been invested in the Capital Markets Climate Initiative since the launch of that initiative.

To date, we have invested £2.57million in the Capital Markets Climate Initiative. This was set up to help us understand the barriers to investment in renewable energy projects in developing countries and facilitate the quick transition of such projects from talk to action, with a particular focus on unlocking flows of private finance. The CMCI programme includes the Global Innovation Lab (the ‘Lab’), which has been endorsed by the Leaders of G7 countries. The Lab has so far catalysed $600million of investments through the instruments it has developed.