Asked by: Catherine McKinnell (Labour - Newcastle upon Tyne North)
Question to the Department for International Development:
To ask the Secretary of State for International Development, what steps she is taking to ensure UK support for energy in developing countries is directed towards low carbon technologies.
Answered by Grant Shapps
DFID supports the development and deployment of low carbon energy technologies through the International Climate Fund (ICF). Since 2011, the ICF has provided access to low carbon energy to more than 2.6 million people.
On October 22nd I launched the Energy Africa campaign which will accelerate access to clean energy across sub-Saharan Africa via the market-based delivery of solar household systems providing the poorest with lighting, phone charging and other critical household electricity services. In addition, through the research we fund, we make a significant contribution to affordable clean energy solutions to meet the needs of the 1.1 billion people who currently lack electricity globally.
Asked by: Catherine McKinnell (Labour - Newcastle upon Tyne North)
Question to the Department for International Development:
To ask the Secretary of State for International Development, with reference to the intervention statement for the Climate Public Private Partnership (CP3) Platform, which private equity firm manages the Scottish Limited Partnership for the UK's investment in the CP3 Asia Fund through this Scottish Limited Partnership; and what the cost is of the fees charged by the Scottish Limited Partnership.
Answered by Desmond Swayne
The UK’s investment into the CP3 Asia Fund, named ‘Asia Climate Partners’, is a Cayman Islands based Limited Partnership. The UK’s investment into the IFC Catalyst Fund is through a Scottish limited partnership. The tax jurisdiction is therefore in the Cayman Islands for Asia Climate Partners, and in Scotland for the Catalyst Fund. There are no fees charged by either limited partnership. These jurisdictions were chosen because they comply with the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.
The IFC Catalyst Fund reached first close in November 2012 and the Asia Climate Partners reached first close in November 2014.
Asked by: Catherine McKinnell (Labour - Newcastle upon Tyne North)
Question to the Department for International Development:
To ask the Secretary of State for International Development, what the tax jurisdiction is for the Climate Public Private Partnership (CP3) Asia Fund and (b) International Finance Corporation Catalyst Fund.
Answered by Desmond Swayne
The UK’s investment into the CP3 Asia Fund, named ‘Asia Climate Partners’, is a Cayman Islands based Limited Partnership. The UK’s investment into the IFC Catalyst Fund is through a Scottish limited partnership. The tax jurisdiction is therefore in the Cayman Islands for Asia Climate Partners, and in Scotland for the Catalyst Fund. There are no fees charged by either limited partnership. These jurisdictions were chosen because they comply with the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.
The IFC Catalyst Fund reached first close in November 2012 and the Asia Climate Partners reached first close in November 2014.
Asked by: Catherine McKinnell (Labour - Newcastle upon Tyne North)
Question to the Department for International Development:
To ask the Secretary of State for International Development, with reference to intervention statement for the Climate Public Private Partnership (CP3) Platform, for what reason the UK's investment in the CP3 Asia Fund is made via a Scottish Limited Partnership.
Answered by Desmond Swayne
The UK’s investment into the CP3 Asia Fund, named ‘Asia Climate Partners’, is a Cayman Islands based Limited Partnership. The UK’s investment into the IFC Catalyst Fund is through a Scottish limited partnership. The tax jurisdiction is therefore in the Cayman Islands for Asia Climate Partners, and in Scotland for the Catalyst Fund. There are no fees charged by either limited partnership. These jurisdictions were chosen because they comply with the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.
The IFC Catalyst Fund reached first close in November 2012 and the Asia Climate Partners reached first close in November 2014.
Asked by: Catherine McKinnell (Labour - Newcastle upon Tyne North)
Question to the Department for International Development:
To ask the Secretary of State for International Development, whether her Department is taking steps to ensure that extractive industry transparency is a key component of the forthcoming G20 Anti-Corruption Action Plan.
Answered by Desmond Swayne
DFID is lobbying partners bilaterally and in multilateral fora to promote progress towards common global standards of extractive industry transparency, including through continuing efforts in the G20 Anti-corruption Working Group which is preparing its Action Plan for 2015-16. The UK would like to see the G20 commit to high standards of transparency in the extractive industries.
Transparency in the extractive industries provides information for citizens in countries with oil, gas and minerals to hold their governments to account for how natural resources revenues are managed. This helps to tackle corruption, to promote poverty reduction, and offers companies a more open, and stable investment environment in which to operate.
Asked by: Catherine McKinnell (Labour - Newcastle upon Tyne North)
Question to the Department for International Development:
To ask the Secretary of State for International Development, in what country the fund managers for the CP3 Asia Fund will be based.
Answered by Baroness Featherstone
The fund managers for CP3 Asia will be based in Hong Kong. CP3 Asia has been renamed ‘Asia Climate Partners’ by the fund managers.