Sam Tarry
Main Page: Sam Tarry (Labour - Ilford South)Department Debates - View all Sam Tarry's debates with the HM Treasury
(1 year ago)
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Sam Tarry (Ilford South) (Lab)
We are clearly falling pretty short of where we need to be if we are to tackle net zero. Recent research by E3G and the World Wide Fund for Nature into clean investment showed that the gap is currently between £81 billion and £111 billion between now and 2030. That is equivalent to a quarter of the investment required in that crucial economic sector and every other sector of the economy. Public investment clearly needs to be a key driver in reaching net zero, so I wonder whether Ministers would consider increasing the capacity of the UK Infrastructure Bank on that.
The Economic Secretary to the Treasury (Andrew Griffith)
The Government are leading the way with the recently published green finance strategy, but that stands as part of a broader piece of work, unleashing productive finance into all parts of the economy and in particular funding the transition, which is capital intensive.