Asked by: Helen Hayes (Labour - Dulwich and West Norwood)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what assessment her Department has made of the effect of UK Export Finance investments on trends in the level of global fossil fuel emissions; and whether her Department has plans to to limit UK Export Finance investments to environmentally sustainable projects.
Answered by Conor Burns
The value of UK Export Finance’s (UKEF) support for fossil fuel-related exports represents around 0.2% of global investment in the sector.
As the world transitions to a low carbon economy, there remains a need for a mix of energy sources and technologies. UK companies have an important role to play in the transition away from fossil fuels and UKEF will remain responsive to the evolving export financing needs of UK companies during this transition. The Government continues to develop strategies to combat climate change and UKEF is an important part of this Government-wide effort.