Here are the climate-related sections of speeches by MPs during the Commons debate UK Financial Services.
16:42 Callum Anderson (Labour)
The third challenge facing the sector, which I want to address briefly, concerns the clean energy transition. I will not discuss the benefits or otherwise of which energy sources we may like to prioritise, but in my view, net zero cannot be delivered by public investment alone, however committed the Government are to that mission—and rightly so. Long-term, patient private capital also has a crucial role to play in supporting tomorrow’s energy infrastructure, from onshore and offshore wind and grid upgrades to next-generation nuclear power. In order for that capital to be committed effectively, I would welcome an annual published pipeline of investable clean energy projects so that firms and asset owners can plan and deploy investment at the scale and pace that our net zero commitments demand.
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16:42 Kerry McCarthy (Labour)
My hon. Friend will not be surprised to hear that I very much agree with the point that he just made. We have some excellent, innovative businesses in Bristol that came up through the Science Creates innovation hubs and attracted private capital. They are flourishing, but they need signals from the Government that we are sticking to our net zero agenda so that there will be a market for their products in due course. Does my hon. Friend agree that those signals are important?
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17:49 Lucy Rigby (Labour)
The third area that my hon. Friend the Member for Buckingham and Bletchley mentioned was clean energy. The UK is playing a leading role in supporting and financing the global net zero transition, which my hon. Friend the Member for Bristol East (Kerry McCarthy) has spoken passionately about in this place on many occasions. As my hon. Friend the Member for Buckingham and Bletchley will be aware, the UK is already one of the world’s leading sustainable finance centres, and the Government’s focus is on how we can evolve and expand that leadership. We are delivering a number of targeted initiatives and prioritising changes that will have the greatest impact, such as UK sustainability reporting standards. We are also focused on making the UK a global hub for transition finance, which is not only essential to meeting our global net zero goals, but a major opportunity for UK growth and investment.
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