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Written Question
Fossil Fuels: Overseas Investment
25 Oct 2021

Questioner: Layla Moran (LDEM - Oxford West and Abingdon)

Question

To ask the Secretary of State for International Trade, pursuant to the Answer of 18 October 2021 to Question 5534, what the exceptional circumstances are in which the Government would provide direct financial or promotional support for the fossil fuel energy sector overseas.

Answered by Mike Freer

The limited exemptions available to the Government’s policy on support for new fossil fuel projects overseas are set out online at: www.gov.uk/government/publications/how-the-government-will-implement-its-policy-on-support-for-the-fossil-fuel-energy-sector-overseas.


Written Question
Fossil Fuels: Overseas Investment
23 Jul 2021

Questioner: Caroline Lucas (GRN - Brighton, Pavilion)

Question

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, if he can provide a full list of fossil fuel projects in CDC Group’s portfolio.

Answered by James Duddridge

CDC has published its full energy portfolio, as at December 2019, on its website - https://assets.cdcgroup.com/wp-content/uploads/2020/09/11174306/Fossil-Fuels-and-Renewables-portfolio-as-at-31-December-2019-pdf.pdf

Having published its 2020 Annual Review on the 6th July, CDC will publish its full energy portfolio, as at December 2020, on its website in due course.


Written Question
Fossil Fuels: Overseas Investment
29 Apr 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

To ask Her Majesty's Government, further to the Written Answer by Lord Ahmad of Wimbledon on 25 February (HL13294), what assessment they have made of the Science Based Targets initiative; and whether any fossil fuel projects permitted under the "very limited exceptions” will be limited to investments and loan guarantees to organisations committed to the targets of that initiative.

Answered by Lord Ahmad of Wimbledon

The Science Based Targets initiative aims to obtain commitments from corporates to reduce their impact on climate change, based on their proportionate contribution to climate targets. As the exemptions within the Government's new policy on support for the fossil fuel energy sector overseas are not restricted to corporations, the Science Based Targets initiative was not considered during the formulation of the exemptions within the new policy.

The Government published detailed guidance accompanying the change to its policy on support for the fossil fuel energy sector overseas on 31 March which 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. The policies of CDC, the UK's development finance institution, are well aligned to the delivery of the Government's new policy.


Written Question
Fossil Fuels: Overseas Investment
28 Apr 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

To ask Her Majesty's Government, further to the Written Answer by Lord Ahmad of Wimbledon on 25 February (HL13294), how the "very limited exceptions" by which some fossil fuel projects will be permitted are defined.

Answered by Lord Ahmad of Wimbledon

Guidance on how the government will implement its policy on support for the fossil fuel energy sector overseas was published in March and is available on the gov.uk website (see link below). The guidance covers: what is exempt from the policy, guidance on how the policy will apply to specific areas and areas not covered by the policy. Publication of the guidance follows a consultation process that ran from 12 December 2020 to 8 February 2021.

How the government will implement its policy on support for the fossil fuel energy sector


Written Question
Fossil Fuels: Overseas Investment
27 Apr 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

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

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.


Written Question
G7: Fossil Fuels
21 Apr 2021

Questioner: Alexander Stafford (CON - Rother Valley)

Question

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps his Department is taking to help ensure that other G7 countries are ending support for fossil fuel projects abroad.

Answered by James Duddridge

Through our G7 Presidency we are pursuing credible, tangible and lasting multilateral climate action, further enabling an ambitious and comprehensive negotiated outcome at COP26. We are committed to supporting the transition to a low carbon economy through increased investment and cooperation in green technologies and we continue to strive for consensus on these issues ahead of the G7 Climate & Environment Ministerial (20-21 May) and the G7 Leaders' Summit (11-13 June). This includes a dedicated review of support for the fossil fuel energy sector overseas by G7 members, with a focus on the most polluting fossil fuels.


Written Question
Overseas Aid: Fossil Fuels
22 Mar 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

To ask Her Majesty's Government what estimate they have made of the total value of overseas aid invested in fossil fuels via (1) the CDC Group, and (2) the Private Infrastructure Development Group, including investments made through financial intermediaries, for the (a) 2015/16, (b) 2016/17, (c) 2017/18, (d) 2018/19, and (e) 2019/20, tax years.

Answered by Lord Goldsmith of Richmond Park

CDC has published its complete portfolio of energy investments as held at 31 December 2019 on its website, which includes the start date of each investment and the total amount committed.

The value of Private Infrastructure Development Group (PIDG) commitments to energy projects (disaggregated by renewables and non-renewables) is published in the 2019 PIDG Annual Review available on the PIDG website. Project level data on all PIDG investment commitments are also available online via its Results Monitoring Database and its annual reports.

Due to the disproportionate cost of compiling the requested data, it is not possible to provide an estimate of the total value of support provided to overseas fossil fuels projects or companies via the CDC Group and PIDG.


Written Question
Fossil Fuels: Overseas Investment
12 Mar 2021

Questioner: Rupa Huq (LAB - Ealing Central and Acton)

Question

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the Prime Minister's press release of 12 December 2020, PM announces the UK will end support for fossil fuel sector overseas, if he will make an assessment of the potential merits of implementing that policy with immediate effect.

Answered by Anne-Marie Trevelyan

The related consultation launched by my Rt. Hon. Friend the Prime Minister on 12 December 2020, ‘Aligning UK international support for the clean energy transition’, set out four possible timing options for implementation of the above referenced policy shift – March 2021, June 2021, October 2021 and Later than 2021. The consultation closed on 8 February 2021, the Government is considering the evidence received, and will respond in due course.


Written Question
Overseas Investment: Fossil Fuels
10 Mar 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

To ask Her Majesty's Government what estimate they have made of the total value of (1) investments, (2) export credit guarantees, (3) loans, and (4) loan guarantees, granted (a) under Official Development Assistance, and (b) by UK Export Finance, to overseas fossil fuels projects or companies which are currently active.

Answered by Lord Goldsmith of Richmond Park

Data on the UK's Official Development Assistance (ODA) support to CDC and Private Infrastructure Development Group (PIDG) provide the current best estimate of the total value of investments, loans, and loan guarantees, to overseas fossil fuels projects or companies.

CDC has published its complete portfolio of energy investments as held at 31 December 2019 on its website, which includes the start date of each investment and the total amount committed. The value of PIDG commitments to energy projects (disaggregated by renewables and non-renewables) is published in the 2019 PIDG Annual Review available on the PIDG website.Project level data on all PIDG investment commitments are also available online via its Results Monitoring Database and its annual reports.

Due to the disproportionate cost of compiling the requested data, it is not possible to provide an estimate of the total value of support provided to overseas fossil fuels projects or companies by UK Export Finance investments.


Written Question
Fossil Fuels: Overseas Investment
25 Feb 2021

Questioner: Baroness Sheehan (LDEM - Life peer)

Question

To ask Her Majesty's Government whether (1) the CDC Group, and (2) the Private Infrastructure Development Group, have to follow any policies set by central Government in relation to (a) investments, (b) loans, and (c) loan guarantees, linked to fossil fuels.

Answered by Lord Ahmad of Wimbledon

CDC Group Plc and Private Infrastructure Development Group (PIDG) each have their own policy on investing in projects linked to fossil fuels. These policies are publicly available and closely aligned to the UK Government's own policy on ODA funded fossil fuel investments overseas, announced at the Climate Ambition Summit on 12 December 2020.


Written Question
Fossil Fuels: Overseas Investment
25 Feb 2021

Questioner: Baroness Sheehan (LDEM - Life peer)

Question

To ask Her Majesty's Government what estimate they have made of the total carbon emissions associated with fossil fuel projects funded through (1) Official Development Assistance, and (2) UK Export Finance, in (a) 2018, (b) 2019, and (c) 2020.

Answered by Lord Grimstone of Boscobel

UK Export Finance (UKEF) defines fossil fuels projects as those related to the extraction, production, transportation and refining of crude oil, natural gas or coal and fossil-fuel fired power stations.

Until 31 March 2020 UKEF’s collected projected annual operational CO2-equivalent (CO2e) Scope 1 and Scope 2* emissions of projects only where they fell under the scope of the OECD Council Recommendation on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (OECD Common Approaches) or the Equator Principles and where they were expected to exceed 25 000 tonnes CO2e annually. The table below is compiled on that basis and uses the latest emissions data known to UKEF for the total carbon emissions associated with fossil fuel projects funded through UKEF in 2018, 2019 and 2020:

(*Scope 1 emissions are direct emissions from owned or controlled sources. Scope 2 emissions are indirect emissions from the generation of purchased energy.)

Projects currently in operations phase (operational carbon emissions)

Financial Year UKEF funding agreed (signed)

UKEF support effective (funding provided)

Estimated carbon emissions in tonnes of CO2e per annum

2018

Yes

18,030,000

2020

No

26,804,725

Estimated emissions for projects supported but not yet in operation (still in construction phase, hence no actual operational carbon emissions to date)

Financial Year UKEF funding agreed (signed)

UKEF support effective (funding provided)

Estimated carbon emissions in tonnes of CO2e per annum during future operations

2018

Yes

15,257,820

2019

Yes

8,178,670

2020

No

3,600,000

With regards to the period from 1 April 2020, emissions information has not yet been collated within UKEF, but UKEF will make climate-related financial disclosures in its
accounts, in line with the Taskforce on Climate-Related Financial Disclosures’ (TCFD’s) recommendations, as soon as practicable following the close of the 2020/21 financial year. For 2020-21 this disclosure will include the type of emissions data described above and in addition will include information on UKEF's governance, strategy, risk management, and metrics and targets regarding climate change financial risks.

We do not hold data for estimated carbon emissions associated with past fossil fuel projects funded through Official Development Assistance (ODA).


Written Question
Fossil Fuels: Overseas Investment
25 Feb 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

To ask Her Majesty's Government what is the total value of planned (1) investments, (2) export credit guarantees, (3) loans, and (4) loan guarantees, in overseas fossil fuel projects by way of (a) Overseas Development Assistance, and (2) UK Export Finance, which have been committed but have not yet been finalised.

Answered by Lord Goldsmith of Richmond Park

The Prime Minister announced at the Climate Ambition Summit on 12 December that the Government will no longer provide any new direct financial or promotional support for the fossil fuel energy sector overseas, with very limited exemptions.

The Secretary of State for Foreign, Commonwealth and Development Affairs has set out seven core priorities for the UK's official development assistance (ODA) budget in the overarching pursuit of poverty reduction, with climate and biodiversity forming one of these core priorities. No decisions have yet been made by FCDO Ministers on individual country or sectoral budget allocations for 2021/22. In addition, it is not possible to publish all planned, potential transactions, investments, export credit guarantees, loans, and loan guarantees, for reasons of commercial sensitivity.


Written Question
Fossil Fuels: Overseas Investment
25 Feb 2021

Questioner: Baroness Blackstone (Labour Independent - Life peer)

Question

To ask Her Majesty's Government what plans they have to extend any policy on banning overseas fossil fuel investment to investments made by the CDC Group, including those by third party financial institutions.

Answered by Lord Ahmad of Wimbledon

The Prime Minister announced at the Climate Ambition Summit on 12 December 2020 that the Government will no longer provide any new direct financial or promotional support for the fossil fuel energy sector overseas, with very limited exemptions. The policies of CDC are well aligned to the delivery of the Government's policy to end fossil fuel investment overseas.


Written Question
Fossil Fuels: Development Aid
9 Dec 2020

Questioner: Kevin Hollinrake (CON - Thirsk and Malton)

Question

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what the Government’s is on future development assistance for fossil fuel projects to (a) Mozambique, and (b) other developing countries.

Answered by James Duddridge

Tackling climate change is a key priority for the UK. The Government is committed to working with countries across the world, including Mozambique, to unlock their renewable energy potential and support their transition away from fossil fuels to cleaner alternatives. The UK will continue to lead by example through aligning our Official Development Assistance (ODA) with the Paris Agreement temperature goals, including our support for energy. This will include our ODA support for Mozambique and any other developing country.

The Prime Minister announced in January that the Government would end direct ODA, investment, export credit and trade promotion support for thermal coal mining and coal power plants overseas. The Government continues to keep its approach to other fossil fuel investments and financing overseas under review.


Written Question
Fossil Fuels: Overseas Aid
7 Dec 2020

Questioner: Baroness Ritchie of Downpatrick (LAB - Life peer)

Question

To ask Her Majesty's Government what steps they have taken to end the provision of Official Development Assistance to fossil fuel projects overseas.

Answered by Lord Ahmad of Wimbledon

Tackling climate change is a key priority for the UK. The Government is committed to working with countries across the world to unlock their renewable energy potential and support their transition away from fossil fuels to cleaner alternatives. The UK will continue to lead by example through aligning our Official Development Assistance (ODA) with the Paris Agreement temperature goals, including our support for energy.

The Prime Minister announced in January that the Government would end direct ODA, investment, export credit and trade promotion support for thermal coal mining and coal power plants overseas. The Government continues to keep its approach to other fossil fuel investments and financing overseas under review.