Question to the Foreign, Commonwealth & Development Office:

To ask His Majesty's Government what assessment they have made of the impact of British International Investment's increased focus on renewable energy projects in Africa; and what assessment they have made of how this aligns with the UK's international development policy.

The FCDO's International Development White Paper outlines the Government's ambition for BII to be a leading DFI on climate finance, supporting partner countries in their transition to net zero and resilient economies. This builds on BII's track record of being the UK's principal investment vehicle for delivering climate finance to developing countries, with over $1 billion of climate finance invested since COP26.

Through the agreement of BII's five-year strategy, Investment Policy, and Policy on Responsible Investment, FCDO ensures alignment of all BII's investments with the UK's international development priorities. In addition, FCDO oversees an evaluation and learning program which recently reviewed BII's infrastructure portfolio. The review found that (i) BII contributes to the provision of cleaner capacity through investments in renewable energy assets, (ii) BII increases resource efficiency through the lowering of power distribution losses in its transmission and distribution (T&D) portfolio, and (iii) 65 percent of the impact generated by BII's infrastructure investments comes from those located in Africa.