To ask Her Majesty's Government what assessment they have made of the recommendations in the report by the World Future Council Unlocking the Trillions to Finance the 1.5°c Limit, published on 7 November 2017, concerning the role of central banks buying fossil fuel stranded assets on the condition that the money is invested in the renewable energy sector.
9 September 2019
This answer is a correction from the original answer.
The Government’s Green Finance Strategy sets out the Government’s approach to accelerating green finance. As set out in the Strategy, the Government welcomes the work of the Central Banks’ and Supervisors’ Network for Greening the Financial System, of which the Bank of England is a founding member.
It has not proved possible to respond to this question in the time available before Prorogation. I will correspond directly with the noble Lord.