Climate Financing

Lord Teverson Excerpts

Tuesday 17th October 2023 Lords Chamber

[Lord Callanan (Con)]

I must disagree with the noble Baroness. There has not been any rollback on the Government’s targets. There is a legally binding commitment, which we will maintain, and of course we have a number of legally binding carbon budgets, which we will also maintain. We are adamant that we are on track to meet all of them.

[Lord Teverson (LD)]

My Lords, I very much welcome the Minister’s confirmation of the UK’s role in international finance on climate change, but money is not the only thing. Technological transfer and transfer of expertise are equally important. Will the Minister tell us what the UK Government are doing to ensure the transfer of expertise and technology that we have in the UK, particularly in areas where we lead, such as offshore wind and other technologies? Are we working strongly to transfer that to economies in the south who can use it even more than we can?

[Lord Callanan (Con)]

The noble Lord is absolutely right. We are world leaders in many technological developments. Offshore wind is one example, floating offshore wind would be another, and a third would be the deployment of solar technology, which could be immensely valuable in many parts of the developing world. We share expertise through the good offices of the Foreign Office as much as we possibly can.

Net Zero (Economic Affairs Committee Report)

Lord Teverson Excerpts

Monday 16th October 2023 Lords Chamber

[Lord Teverson (LD)]

My Lords, I also declare my interest: it is in a company called Aldustria Ltd, which is into energy storage. I absolutely agree with the noble Lord, Lord Frost, that there are many issues around energy storage, particularly in the long term, on which I know the Government have done a number of consultations.

I congratulate my noble friend Lady Kramer on her introduction to this report. She is absolutely right: it has taken far too long to get it to the Floor of the House. As the noble Viscount, Lord Chandos, said, there have been three Prime Ministers since the report came out. The only thing that I would say is that it has actually managed to get to the end of its process slightly quicker than the Government’s Energy Bill, which started in the same month that this report was published but has still to be completed. I hope that that will happen before the end of this month. That shows the urgency that the Government wanted to put into their energy strategy but did not, particularly on electricity and carbon capture and storage.

I shall come back on energy costs for a minute, in response to the noble Lord, Lord Frost. The noble Viscount, Lord Chandos, is absolutely right about 2050. It is not about reaching net zero that year—you have to get it all the way through. I do not think that methane was mentioned in the report—I may be wrong—but that is one area where there may be some quicker wins.

I absolutely agree with the noble Lord, Lord Turnbull, about Rough storage, although I think that only a small amount of that facility is contracted to the Government. Centrica is hanging on to the rest of it, and there is no guarantee that it will be there long term. That is a real vulnerability.

As for new gas and oil and, particularly, coal facilities, I do not see any UK Government banning exports of those products. I do not see that ever happening, which is why I do not think that there is any effect on our energy security or, indeed, on global pricing for those new openings.

I shall come back on demand reduction in a minute in response to the noble Baroness, Lady Bennett, as it is an important area. But I just say to the noble Baroness, Lady Noakes, that I came up as a traditional economist, and it always seemed to me that it was really important to cost the idea of externalities into actual pricing systems. With carbon emissions we have huge externalities that are not priced into market competition—and that is why there have to be differences.

I also say to the noble Baroness that, of course, there is a huge kickback at the moment to the Government on contracts for difference through the Low Carbon Contracts Company, whereby at the moment actual market prices are hugely higher than strike prices. I would be interested to understand from the Minister—

[The Parliamentary Under-Secretary of State, Department for Energy Security and Net Zero (Lord Callanan) (Con)]

It is not a kickback to the Government—it is a kickback to the consumer.

[Lord Teverson (LD)]

Yes, exactly. The Minister corrects me. That is even more to the point. I think it has got to several billion pounds in terms of coming back into that sector working the other way, which probably exceeds now the green costs that there were. That is quite an optimistic look at that.

It seems to me that one real problem in this area—because the world has moved on since last July—is with those recent announcements that my noble friend went through from the Prime Minister. They probably did not have as big an effect as some people said, but they did drive a horse and carriage through our international reputation, as indeed did the coal decision in Cumbria. Our being seen as a global leader in this area, which the report was keen to emphasise, has been trashed to a large degree, and has been seen as such by allies such as America and the European Union.

I want to come back to those announcements, one of which was to abolish the Energy Efficiency Taskforce. The Minister was chair of that, and I understand that four meetings took place. Whether you look at security or at cost, the most secure energy is the energy that you do not need. The energy-efficiency side is important in that area, as well as cost. I would be interested to understand from the Minister why he was made redundant by the abolition of that committee. The UK should be a real leader, and really move in this area. The report asks for an energy demand reduction strategy, and that is really called for. It is not just around buildings, as the Government’s response said that it was; it is around a much broader area, including appliances and other interests.

One thing that has been emphasised during this debate is private investment, which it is clear is absolutely essential to deliver net zero. I am not pessimistic about this. Most private investment takes place to reduce costs, not to increase them. Companies do not invest to increase prices; they invest to reduce prices, and that is what we should aim for with the net-zero strategy.

One problem with the Prime Minister’s announcement, and all the other issues that have happened, is that we have a wobble with investor confidence—absolutely we do. Those messages that go out to industry and the investment sector say that we are no longer reliable on our government policy or on the foundation of confidence going forward. That has an even bigger effect when we have the Inflation Reduction Act in the United States and the EU green deal industrial plan on the other side of the channel. I would be interested to understand from the Minister when the Government will really respond to that huge financial challenge, which really prejudices how we can deliver net zero through the private sector in future.

I will make one or two further points, as I am sure the House will want to move on. The noble Baroness mentioned the UK Emissions Trading Scheme. I have been very hopeful—not because I am pro-European but because of liquidity and various other areas—that there should be a tie-up between the UK Emissions Trading Scheme and the EU equivalent. I understood that that was a government objective, but now we have a huge divergence in prices. The UK ETS a year ago was about £100 per carbon tonne; it is now down below £40. In the EU, it was around €100 per tonne a year ago but is now down to about €80. A huge difference has opened up. I would be interested to hear the Minister’s reaction on how the carbon border adjustment mechanism will affect that, as Europe starts to develop it over the next few years. That price signal is so important in terms of taxation and disappearing incentives for investment in our economy.

I am glad to see the noble Lord, Lord West, is here, because one of the key issues in energy security at the moment is defence, which has not been mentioned in this debate. In Finland, we have seen potential interference with the explosion of one of its energy pipelines and we have seen Nord Stream 1 and 2 destroyed. We know from our intelligence that the Russian Federation is keeping a very close eye on our undersea energy and communication networks. The Minister may not have an answer to this, but it is one of our major concerns in energy security as we move forward and have more interconnectors offshore. I am sure he agrees that this is a major thing we must look at.

Finally, coming back to consumers, the energy companies and Ofgem estimate that, as we reach the end of summer and enter winter and higher bills, the outstanding energy bills from consumers will be about £2.6 billion. Are the Government happy with that? Do they think it is sustainable for low-income families? Do they intend to do anything about it? This is probably the biggest challenge of all. Although the noble Lord, Lord Frost, talked about the importance of gas, which will be important for many years, the gas price has driven inflation and the high costs to families of keeping warm. It has led to inflation, which has led to the failure of those offshore wind projects. It is important that we restart that, but the problem is not the technology and the price coming down in real terms; the problem is inflation. What will happen to families over this winter?

Climate Change Policies

Lord Teverson Excerpts

Wednesday 20th September 2023 Lords Chamber

[Lord Callanan (Con)]

The noble Baroness makes a number of statements before she has even heard what the Prime Minister has to say later; perhaps she might want to read what the Prime Minister actually announces and revise her statements in light of that.

[Lord Teverson (LD)]

My Lords, the Minister has provided a list of things that all of us have been proud of in the past, but the point is that is the past. This announcement is a tragedy for this nation because that leadership that we had globally, of which we all were proud, is about to disappear. The Prime Minister is likely to say that the target of net zero still exists, which is a fabrication. We know from the Climate Change Committee, the Government’s own adviser, that we are already behind that in terms of policy. This will kill that objective.

We have the IRA in the United States and the green investment plan in the EU. We are now retreating from international investment. The question I ask the Minister is where the investment will come from to get us to net zero, but the question I really want to ask is how come any Ministers are still in the department for net zero. They should have all resigned this morning.

[Lord Callanan (Con)]

As the noble Lord knows, net zero is a legal commitment imposed on us by Parliament; it is the duty of Ministers to meet that commitment, and we will do so. As I have said, we are currently overachieving on carbon budgets 4 and 5; carbon budget six does not start until 2033. I have sat down with policy officials, and we are confident that we are on track to meet that as well. We are attracting record amounts of inward investment into this country. I talked earlier about the windfarm industry; we could talk about hydrogen or CCUS—the UK is world-leading on all those policies and many global companies are rushing to invest in the UK. Our difficulty is prioritising some of that investment.

Energy Bill [HL]

Lord Teverson Excerpts

Consideration of Commons amendments
Tuesday 12th September 2023 Lords Chamber

[Lord Teverson (LD)]

My Lords, first, I congratulate the Minister—he knows that I like to praise his work—particularly on the change in the Ofgem amendment, in that our major regulator will now have a net-zero objective. To me, that is absolutely stark staringly obvious, and the fact that there has been government resistance to it while the Bill has been in this House I find strange, so that is a real move forward. The other thing that is to me stark staringly stupid is that we are talking about opening a coal mine in 2023. That makes no sense at all, and I will go through the reasons why.

It is not just we on these Benches or the Opposition who have that view. Let me quote from the Commons at Report. The then Energy Minister, Chris Skidmore—highly respected in this area and highly respected by the Government, in that he wrote their independent net zero review—said:

“Legislating to prevent the opening of new coal mines simply maintains the commitment that the UK sought to make to the rest of the world at COP26”—[Official Report, Commons, 5/9/23; col. 303.]


That was Chris Skidmore, former Energy Minister, valued by the Government for his net zero review, and by all of us for that great piece of work.

At COP 26 in Glasgow a couple of years ago, which we chaired very successfully under Sir Alok Sharma, we nailed our colours to the mast and led a coalition of countries—I think the government press release says 190—and celebrated the fact that we would phase out coal. What motivates me most to put Amendment 272A forward again is that our international reputation is being shredded by the fact that we are moving ahead on this basis. Let us not pretend that it is not noticed internationally, because it is. Even the White House, under John Kerry, the climate envoy, has remarked on this piece of government policy planning and Michael Gove’s proposal to open the coal mine. So, our international reputation for climate leadership, which all of us on all sides of this House have been particularly proud of over the years, is being literally trashed by this decision.

That has other effects as well. During a Private Notice Question yesterday, we debated the fact that we had no investor take for offshore wind on the CfD pitch when it concluded last week. That shows that we need rock-solid commitment to net zero in order to attract investment into this country. To me, our saying internationally that we are starting to open coal mines absolutely goes against what we are saying to bring in investment. It questions UK government policy, which is competing with the Inflation Reduction Act in the United States and a green deal industrial plan in the EU. We are trying to get a slice of that global investment, yet our environmental and climate focus is wobbling. That is absolutely wrong.

This amendment would apply to any sort of coal mine, but the Minister mentioned the Cumbrian coal mine, which is what that decision is all about. Let us be clear about that proposition and the company West Cumbria Mining. As the noble Baroness, Lady Bennett, has said already, that industry is moving—indeed, must move—competitively towards a much greener stance; for the UK steel industry to remain competitive, it must do so as well. As I understand it, scientists have questions about West Cumbrian coal, including whether its sulphur content is even sufficient for the steel industry. However, the main facts are these: first, the steel industry generally is not that interested in that coal; and, secondly, the company itself says that some four-fifths of the coal will not be used by the UK steel industry, which means that it needs to be exported. Once coal is exported, we have no control over how that substance is used.

That brings me to transport. The argument is that it is better to provide our own coking coal than to import it. However, if we export 80% of this coal, that will put transport costs up because we will have the cost of transporting it to other, international markets.

The one argument that I do have sympathy with concerns jobs. We all know that the region of Cumbria is hugely challenged in terms of levelling up, jobs and income. However, it is completely obvious to me that, as the noble Baroness, Lady Blake, just talked about with regard to Labour’s amendment, we have the ability to provide green jobs and proper energy efficiency. It is clear to me that this coal mine will not be there for a particularly long time, so those jobs will be transient.

I will leave it at that but let me come back to the United Kingdom’s international reputation and our important share in global investment in the green sector. I quote the Government’s own website, which said this after COP 26:

“The end of coal—the single biggest contributor to climate change—is in sight thanks to the UK securing a 190-strong coalition of countries and organisations at COP26”.


That was a proud moment for not just Alok Sharma but the Government. It is being trashed.

[Baroness Boycott (CB)]

My Lords, I rise to speak to Amendment 274B in my name. I draw attention to my interests in the register.

I will speak briefly about community energy but let me just say that I absolutely support the amendments in the names of the noble Baroness, Lady Blake, and the noble Lord, Lord Teverson. I also very much support the noble Lord’s words, especially about what this measure is going to do to Britain’s reputation, and his reminding us of where this country was just a couple of short years ago as the leaders of COP, playing a proud role on the world stage; that seems to be in tatters right now.

Community energy is wildly popular in the country—it is extremely popular with all sorts of people. I find it puzzling why the Government are not bending over backwards to make this easier and simpler for people. I do not want to get into the arguments about onshore wind, but surely one way to mitigate communities’ concerns about renewable energy is to give people a stake in it so that it is about not just a bit of money but owning something. My sister has lived on a small island in Denmark for 60 years. The people there are completely energy independent. It was the first place I knew of that had wind farms everywhere. Everyone knows how much electricity is coming in and what it is doing. They have ownership and share prices—that is just the way it has been done, and it is kind of brilliant. Why can we not say, “The local energy we produce off that hill heats my towel rail all year round”? They can report, “I co-own it”, “It has paid to put solar panels on the roof of the community hall”, or “It has paid for energy efficiency advice and deals for the other homes in our village”.

In fairness to the Government, they have acknowledged this, but we seem to have spent an incredible amount of time hand-wringing about the difficulties rather than finding the easy, appropriate ways of supporting it. All that the sector wants is a deal comparable with all the other renewable energy that we have in this country, via a guaranteed minimum price. This gives communities the certainty that they need to raise the funds to go ahead. This is true across so much of the alternative energy sector.

I supported the establishment of the £10 million community energy fund but, quite honestly, that is not very much. If you look in the Evening Standard, you find that you can buy a flat for £10 million within about 100 yards of here. It is not going to go far enough. We need real reform, so the commitment made by Andrew Bowie in the other place

“to consulting on the barriers the sector faces when developing projects”—[Official Report, Commons, 5/9/23; col. 281.]

was particularly welcome.

That is why I have come up with this compromise amendment, which I hope that the Minister feels able to accept. It would give the industry a boost to know that there was something coming down the tracks on an agreed timeframe. A problem that we have seen before is consultations which do not receive a response—or do but with serious delays. That is all that I am trying to avoid with this amendment in lieu, which sets a generous timescale of 18 months for a consultation and a further six months for bringing forward proposals to remove the barriers to community energy schemes. This times nicely with the end of the two-year community energy fund and would avoid a potential cliff edge.

I believe that the Minister will appreciate the need for clarity for the sector and the need to reassure over 300 MPs, including 147 Conservative MPs, who backed the original Local Electricity Bill, which recognised the barriers to community energy and proposed remedies. I therefore ask him to give this house more clarity on timescales, or I may be required to test the opinion of the House.

--- Later in debate ---

Moved by

[Lord Teverson]

Leave out “agree” and insert “disagree”.

[Lord Teverson (LD)]

My Lords, for the reputation of the UK internationally and for the health of the planet, I wish to test the opinion of the House on this amendment.

2030 Emissions Reduction Target: Heating

Lord Teverson Excerpts

Tuesday 5th September 2023 Lords Chamber

Asked by

[Lord Teverson]

To ask His Majesty’s Government how they intend to decarbonise heating in order to meet the 2030 target of a 68 per cent reduction in emissions.

[The Parliamentary Under-Secretary of State, Department for Energy Security and Net Zero (Lord Callanan) (Con)]

My Lords, the Government are investing £6.6 billion over this Parliament in improving energy efficiency and installing low-carbon heating. A further £6 billion has already been committed for 2025 to 2028. Heat pumps are the key technology for decarbonising heating in the near term and are essential in all 2050 scenarios. Therefore, the Government’s aim is for 600,000 heat pump installations annually by 2028. However, a range of technologies will be needed to decarbonise heating, including expanding heat networks in the longer term.

[Lord Teverson (LD)]

My Lords, the Government’s emission targets are both ambitious and critical, so why are we still allowing gas boilers to be installed in new housing developments right now?

[Lord Callanan (Con)]

As the noble Lord knows, that is a matter for building regulations. The future homes standard will come in from 2025; it will not specify the type of heating but it will put in place standards that will, in effect, end gas boiler installations in new homes.

Oil and Gas Windfall Tax

Lord Teverson Excerpts

Wednesday 19th July 2023 Lords Chamber

[Lord Callanan (Con)]

No, I would not agree with the noble Lord, I am afraid; he is absolutely dead wrong. Even with any new licences that might be issued in the UK, UK production will continue to decline at the rate of about 7% a year. It is estimated that global production decline needs to be about 3% to 4% in order to ensure the net-zero transition, so we will be declining at a faster rate than what is required globally.

[Lord Teverson (LD)]

My Lords, the windfall tax that the Minister mentions taxes profits but also gives a substantial kickback on investment. On renewables, the levy is against revenue and there is no such kickback. When will the Department for Energy Security and Net Zero stop discriminating against renewables?

[Lord Callanan (Con)]

My Lords, what the noble Lord refers to as a “kickback” is actually an investment allowance. If I am right, the same noble Lord was asking me about reducing flaring and about introducing electrification of fields. It is those investment allowances that pay for the very policies that he asked me to introduce.

Decarbonisation

Lord Teverson Excerpts

Thursday 13th July 2023 Lords Chamber

[Lord Callanan (Con)]

I understand the point that my noble friend is making. A happy by-product for the Treasury of the emissions trading scheme is the considerable revenue that it generates, and I am sure that it is spending all this money very wisely.

[Lord Teverson (LD)]

My Lords, the EU-UK Trade and Cooperation Agreement, which the Government negotiated, had a clause that said that the two sides should talk further about the EU and UK emissions trading systems, and that they should be connected and start to work together. That has been strongly endorsed by most sectors of British industry. Have those negotiations started? If so, great; if not, why not?

[Lord Callanan (Con)]

My Lords, I appreciate the desire of the Liberal Democrats to get us into the EU regulatory orbit as quickly as possible. As with many things, there are arguments for and against the linking of the two ETS systems. They are equivalent—in fact, ours is probably slightly more ambitious than that of the EU. We will continue to explore this policy with the Commission.

Cement Industry: Carbon Dioxide

Lord Teverson Excerpts

Wednesday 12th July 2023 Lords Chamber

[Lord Callanan (Con)]

The figures I have are slightly different; my figures say that the sector accounts for 1.5% of the UK’s total greenhouse gas emissions. The sector has made strong progress in reducing its emissions. Of course, we stand by to help it further. It is a particularly difficult sector to decarbonise, given that 70% of its emissions are process-related.

[Lord Teverson (LD)]

My Lords, I have to admit that I agree with the Minister; I think the figure is 1.5%. We have an important cement industry in this country on which many other sectors are dependent. However, five out of 10 plants are not in one of the industrial areas in which we are going to have a concentration of carbon capture and storage—there are five others outside those areas. In the past, the Government have suggested that there would be a lifeline for enabling carbon capture and storage for those other five. Where are we on that? Are the Government still positive about aiding the whole sector to decarbonise?

[Lord Callanan (Con)]

I thank the Liberal Democrats for agreeing with something I have said, for a change; that is a welcome departure from normal practice. I agree with the noble Lord, and as I said, this is a difficult sector to decarbonise. We are working with it and having regular meetings. There are 10 cement plants in the UK, only one of which is situated in an existing cluster. Of course, we are considering expressions of interest from additional clusters at the moment. I would not want to predict that process. Whatever happens, CCUS will clearly be a key technology for many cement plants. We have funded a number of feasibility projects with existing suppliers and will continue to work with them.

Climate: Behaviour Change (Environment and Climate Change Committee Report)

Lord Teverson Excerpts

Wednesday 7th June 2023 Grand Committee

[Lord Teverson (LD)]

My Lords, it is a great pleasure to follow the noble Lord, Lord Rees of Ludlow, and his wise words. Like everyone else, I particularly congratulate my noble friend Lady Parminter, who I know feels that this area is very important, both in practice and in theory. I also congratulate the committee on its work. I congratulate too the Minister and the Government because the Minister has obviously been persuasive in that I have heard today that we have a net-zero objective for Ofgem, after many years of trying to persuade it. I was interested that Ofgem welcomed it, whereas, in the Energy Bill, we heard that it was against it—but there we are; it shows that things can change. I am sure that the Minister was very persuasive in that, so I thank him.

Coming back to the report, I echo very much the feelings and statements of many Members of this Grand Committee and this House that the overall view of the Government’s response is disappointing. Exactly as other noble Lords said, it goes through the list and says, “We’re doing it”, implying that they need to do no more—yet, in a way, it exposes those siloes of each of those areas within the department, not tying them together.

One of the things that we need to take into consideration—I do not think it was mentioned in the debate—is that, although we are being very successful, relative to the globe, at reducing our emissions, the vast majority of this so far has been because we have substituted gas for coal and, increasingly, renewables for gas. That has been easy because none of us have noticed it: we plug in our hairdryer, iron, washing machine or whatever, and they work just the same—we have not had to change anything whatever. Just maybe, despite the problems with the charging networks, we may have that opportunity with EVs as well, with the market and the convenience of EVs meaning that there can be a natural market change, like there was with iPhones, which we moved to without any persuasion from government. At that point, it gets a lot more difficult: we have to make changes that we will notice, which is why this report is so important.

I have great sympathy with what the noble Lord, Lord Lilley, said: technology will be an incredibly important part of this. But I do not think we know enough about that percentage split between behaviour and technology—he has obviously heard more evidence than me, and I am interested in that proportion. But, whatever it is, behaviour change will clearly be an important part of that mix, which is why I welcome that report. But, my goodness, we have to carry on with technology, which is why it is important that we get on with rejoining the Horizon programme now that we have the Windsor agreement. The noble Lord, Lord Bilimoria, mentioned the appalling level of R&D expenditure —we need to get that up generally as well. We need help with that for the next stage of decarbonisation.

I was particularly interested to read about the models that might already exist. I like the pensions one, although it is nothing to do with net zero. The Government successfully put in a process that was not obligatory: it sort of happened, and you had to positively say no if you did not want it. It has been very successful. This is one of those areas where you think about the future—maybe 20, 30 or 40 years ahead—when you are normally not too bothered about it. Unfortunately, with carbon, we already have those challenges.

The climate assembly was particularly important, and I ask the Minister whether we can proliferate those assemblies because, as I understand it from speaking to committee members, whatever their background, they have become great advocates of the cause because they were persuaded by the facts. It is also important to have a positive message about climate change. One big problem—I fall into this category—is that we can be incredibly pessimistic about the future of this planet. We all know the challenges of meeting the 1.5 degrees target. However, we need positive messages and to involve communities in particular.

I always mention this, but some 310 local authorities have declared climate emergencies. While some of that may be cynical or done just because it is fashionable, most of those authorities want to implement climate policies, but because of the incredible constraints on local authority expenditure and because those policies are not statutory requirements they tend not to happen much. That is one of the areas that we have to change. There should be more community and district heating schemes. My wife is a member of a parish council and has taken on the role of climate and nature advocate, but she has had to travel down the learning curve like thousands of others in similar positions. We are not spreading that knowledge.

Regulation is usually positive. Biodiversity net gain is a recent example and I congratulate the Government on that, but a main question around environmental regulation is enforcement. It is weak in the UK at the moment. We have been too slow on housing regulation, as others have mentioned.

I say to my noble friend that the one area about which I was slightly disappointed—it was mentioned also by the noble Lord, Lord Bilimoria—was the biodiversity crisis, which is not mentioned a great deal in the report, and yet, although connected to climate change, is an equal challenge.

To conclude, we and the Government—this country—are able to show the leadership in this area that we have done as regards technology in terms of delivering on climate change. This should be one or our national missions globally, to be the place that shows that behavioural change is important, can work and can ease all the difficult political decisions that our colleagues at the other end of this building have to make to bring forward this agenda. What I would ask the Minister most is to come back to a strategy of public engagement. We do not have that and are not near it. Chris Skidmore has said that it is essential. Where are we on that? What will its content be? Will it be anything like this excellent report?

SMEs: Net-zero Targets

Lord Teverson Excerpts

Wednesday 7th June 2023 Lords Chamber

[Lord Callanan (Con)]

The noble Baroness makes an important point. The encouragement of green jobs and helping workers to go from the old fossil fuel economy to new jobs is a challenge. We are spending several billion pounds a year working with the DfE and across the various green homes grants. We have a number of highly skilled green jobs funds, which industry accessed. There is no one simple answer but she is right; it is a job that we are working on.

[Lord Teverson (LD)]

My Lords, earlier today, I spoke to an owner-manager of an SME in the print industry in my part of the world. She said that her biggest issue in trying to become a B Corp SME is getting information from big suppliers on their scope 3 emissions, which is really important for SMEs that want to go down this path. Could the Minister take this issue and how it might be solved back to his department, or give me an idea of how that issue might be approached by the Government in future?

[Lord Callanan (Con)]

The noble Lord makes an important point. We are aware of this issue. We are increasing the reporting requirements for bigger companies. We must be careful to make sure that we do not put too many undue burdens on business but I will certainly have a look at the issue for the noble Lord.