Question to the Department for International Development:

To ask the Secretary of State for International Development, what investments (a) CDC Group and (b) its subsidiaries have in power generation facilities using (i) diesel, (ii) crude oil and (iii) Heavy Fuel Oil as a primary or secondary fuel; and what the (A) primary fuel type, (B) secondary fuel type and (C) value is of each investment.

CDC has made the following investments:

The total net asset value of these investments, as at 31 December 2019, was $276,272,552. CDC publishes the amounts it invests directly into businesses and investment funds. Individual investment valuations are commercially sensitive and are not disclosed.

In the first two years of CDC’s current strategic period (2017-2018) it committed over $500 million to renewable energy.

Since 2015, CDC has made over $800m of commitments in green investments in a range of sectors – including renewable power, green buildings and forestry. Over the past two years, CDC has committed over $500 million to renewable energy projects, almost 25% of CDC’s total investment commitments made over this period. Building on this base, CDC have recently completed work on a new Climate Strategy that sets out a higher level of ambition on Climate and a portfolio-wide “Carbon budget” approach to Paris alignment, tied to HMG commitments to reach net zero by 2050. CDC will launch its new strategy later this year.