Taskforce on Nature-related Financial Disclosures
Debate between Baroness Hayman and Lord Benyon(1 week, 3 days ago)
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Lord Benyon (Con)
Climate and nature finance are raised at all those fora. The most important thing is that the Government have put a large amount of money in. We have backed the Green Finance Institute, a wonderful organisation, with £4.8 million to do a number of different pieces of work for us. This is being talked about in all sorts of fora and was mentioned last week at the World Bank spring meetings. It is now embedded in how risk is talked about as well as in how Governments are supporting a global endeavour to get some universal baseline which companies can understand and which is not overburdensome but which makes them look at their supply chains.
Baroness Hayman (CB)
My Lords, I declare my interests as set out in the register. I want to ask the Minister specifically about financing for deforestation. The green finance strategy committed the Government to organising some round tables to discuss how to tackle this problem. Can the Minister update me as to how those round tables are going and what the outputs are?
Lord Benyon (Con)
There is a lot of talking about it but there is also a lot of action. Any day now, we will publish our forest risk commodities regulation, which will be debated by this House and will be an effective way of making sure that consumers here know that they are not using commodities that will result in rainforests being destroyed. However, there is a lot more to be done. I give the example of the Congo Basin, where I was recently. The UK is a major funder towards protecting that extraordinary, vast ecosystem which if it was allowed to collapse would impoverish all sub-Saharan Africa. It is really important that we work internationally on these matters.
International Mother Earth Day
Debate between Baroness Hayman and Lord Benyon(2 weeks, 4 days ago)
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Lord Benyon (Con)
I entirely agree with the noble Lord. At recent COPs, particularly the CBD in Montreal 14 months ago, we spent a lot of time talking to representatives of local communities and indigenous peoples, to make sure that we are making this relevant to them. If the noble Lord wants one example, I will mention digital sequence information, which is potentially a £100 billion a year new nature fund, where the money will go direct to local communities and indigenous people. It is an example of the priority we are making them, to make sure that they are part of the conversation.
Baroness Hayman (CB)
My Lords, I declare my interests as set out in the register. The scale of the cost of servicing debt for emerging economies was highlighted at the World Economic Forum last week. Are His Majesty’s Government open to pursuing debt swaps as a way of allowing climate-vulnerable countries to implement the very necessary adaptation to combat the damaging effects of climate change that are all too obvious?
Lord Benyon (Con)
The noble Baroness is absolutely right that debt holds back countries in a completely unfair way, particularly those which are most vulnerable, and we are committed to improving the international debt system. We are pushing for improvements to the G20 common framework, and we use our position in official creditor committees to help to return countries to debt sustainability. One example I would give her is that we in the UK pioneered the climate resilient debt clauses, which pause debt repayments when a developing country is hit by a disaster. I am delighted that France and three other countries have followed suit, and that this is now becoming an established form of debt alleviation.
Air Quality Strategy Consultation
Debate between Baroness Hayman and Lord Benyon(11 months, 4 weeks ago)
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Lord Benyon (Con)
The number of responses was typical of the kinds of consultations that my department conducts. That 97 local authorities responded in full and that there were many other events, engagements and direct contact with local authorities and other campaigners meant that we ran a full consultation, and we have an air quality strategy that reflects that.
Baroness Hayman (CB)
My Lords, the Minister’s throwaway remark about the possibility of there being too many consultations tempts me to ask him—and I declare my interests—whether the problem is not too many consultations but not enough follow-up and action when consultations have taken place? Could he look in particular at the consultation several years ago on energy-efficiency standards in the private rented sector?
Lord Benyon (Con)
I entirely understand the point made by the noble Baroness. Perhaps mine was born out of being slightly long in the tooth in this game, because when I was last at Defra, it was always the threat of infraction fines that delayed policy—“Oh, Minister, that may well result in us being infracted by Europe”. Now, I find very often that consultations are followed by consultations on consultations, and it is a way of kicking the can down the road. I am a firm believer in the right sort of consultation; I just want to make sure that we are delivering policy as quickly and as efficiently as possible.
Climate Change
Debate between Baroness Hayman and Lord Benyon(2 years, 2 months ago)
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Lord Benyon (Con)
I entirely agree with my noble friend that it is predictable. It is another emerging technology and one that we are investing in with academia to try to see its development around our coast.
Baroness Hayman (CB)
My Lords, the IPCC report yesterday made clear the overwhelming risks of humanitarian crises, food insecurity, flooding and other problems for some of the most exposed places in the world. What progress have we made in our ongoing presidency of COP in terms of global action on mitigation?
Lord Benyon (Con)
The noble Baroness is absolutely right. Climate change hurts the most vulnerable most. I have been in parts of world where I have seen the impact of climate change. I have seen the look on people’s faces as they have to move from one island to another because they can no longer survive on the island of their birth. We are determined to use our experience and our presidency of COP with our successors to make sure that we reflect the needs of the most vulnerable on this planet.