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Climate Change

Question for Department for Business, Energy and Industrial Strategy

UIN HL17779, tabled on 6 September 2019

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.

Answered on

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.

Original answer

It has not proved possible to respond to this question in the time available before Prorogation. I will correspond directly with the noble Lord.

Answered by

Department for Business, Energy and Industrial Strategy