Queen’s Speech — House of Lords, 2022-05-16
Topic: Environment
Questions: 2050—I am just 100 years out. Even if we get to that, a lot of countries in the world will not. Two things follow from that. The first is that climate change will not be significantly improved. We in this country produce 1% of the world’s emissions, so if we have all the struggles and make the vast expenditures but other countries do not, we will not have achieved anything so far as climate change is concerned Secondly, if we have spent an enormous amount of money improving our electricity and getting it all done, our electricity will almost certainly be more expensive than it is in other countries. There is a danger we have to watch, as the heavy industrial users of electricity will build their factories in other countries, not in those that have spent all that money on this. We have the time to deal with this, but we have to be very careful that that is not the end result of what we do.
Martin Callanan (Conservative, Centre-right): We are funding a number of innovative projects—from memory, I think that there was one in the Scottish islands—helping to explore the potential for wave as well as tidal power. I would be happy to write to the noble Baroness with more details on that I turn to the question of the noble Baroness, Lady Kramer, on the financial capacity of the infrastructure bank compared to the European Investment Bank, which used to invest around £5 billion a year in the UK. However, the EIB has a broader focus than the UK Infrastructure Bank, which is not a direct replacement for it The noble Viscount, Lord Chandos, asked why the Government chose to privatise the green finance bank. The bank had a targeted mandate to mobilise private finance, and, when it did so, it was sold. However, as I said, the UK Infrastructure Bank has a broader mandate, spanning both investment in green technologies and infrastructure projects needed to tackle climate change and support economic growth across the UK The noble Lord, Lord Redesdale—I do not see him in his place—asked me about carbon reporting. The UK’s economy-wide sustainability disclosure requirements regime will require businesses and investment products to report on their impact on the climate and the environment. Legislation introducing these changes will be brought forward when parliamentary time allows. I apologise; I can see the noble Lord now Moving on to the environment, we know that we live on one interconnected planet and that it is our duty to guard it for the next generation. I welcome my noble friend Lord Harlech’s contribution to the debate on rural issues. His father was a champion of the countryside, and I am glad that he continues to speak passionately about rural issues. I am sure that he, my noble friend Lord Smith and the noble Baroness, Lady Donaghy, have already acquainted themselves with the Levelling-up and Regeneration Bill introduced to the other place last week, and I encourage their contributions when that Bill makes its way to this House We also want to ensure that there is enough food for everyone, even as the climate changes. That is why we are positioning the country to become a world leader in precision breeding technologies such as genetic editing. I welcome the recognition from the noble Baroness, Lady Hayman, that this can be of huge benefit to the country Alongside this, leaving the EU has enabled us to improve our animal welfare standards. The Animal Welfare (Kept Animals) Bill delivers on three government manifesto commitments on animal welfare and is a high priority for the Government I reassure my noble friend Lady McIntosh that the Government are committed to securing free trade agreements that are tailored to British firms and the economy, and, of course, are not compromising our environmental, food and animal welfare standards. We are also working hand-in-hand with farmers on our plans for a renewed agricultural sector, which will transform the way we support farmers in the UK In conclusion, I thank all noble Lords for some excellent contributions. I apologise that, with almost 60 speakers, I was not able to address all the points made in the time I have available; in fact, I am already over my allotted time. However, we covered from financial services to farming, economic crime and energy security. The Queen’s Speech we have debated this evening will help to strengthen our country after a turbulent few years.