Fossil Fuels: Overseas Investment

(asked on 14th April 2021) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask Her Majesty's Government, further to the Written Answer by Lord Goldsmith of Richmond Park on 25 February (HL13295), whether they are currently considering any fossil fuel financing projects through (1) UK Export Finance, or (2) Overseas Development Assistance, within the scope of the "very limited exceptions".


Answered by
Lord Goldsmith of Richmond Park Portrait
Lord Goldsmith of Richmond Park
Minister of State (Foreign, Commonwealth and Development Office)
This question was answered on 27th April 2021

The government published detailed guidance accompanying the implementation of the new policy on support for the fossil fuel energy sector overseas on 31 March. This is available at: https://www.gov.uk/government/publications/how-the-government-will-implement-its-policy-on-support-for-the-fossil-fuel-energy-sector-overseas. We will consider any requests for project financing against the published guidance.

It is not possible to publish all planned, potential transactions, investments, export credit guarantees, loans, and loan guarantees, for reasons of commercial sensitivity. Details of confirmed financial support will be available in FCDO's annual Statistics on International Development report on Official Development Assistance spend, and in UK Export Finance's annual report.

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