Delivering the global transition to a low carbon economy will require unprecedented levels of investment from the public and private sectors. The Government is fulfilling our pledge to deliver £5.8 billion between 2015/2016 and 20/21. In addition to investing our own resources, the Government continues to press multilateral organisations to help countries tackle climate change through providing finance. The Multilateral Development Banks have an important role to play, and in the last year the World Bank has set new targets for the proportion of its finance which contributes to low carbon, resilient development. In 2018, 70% of World Bank projects include some climate benefits, up from 37% just two years ago.<\/p>
Private finance is crucial, and the Government uses some of its climate finance to unlock investments from the private sector. To date, we estimate that the UK has leveraged £910 million of private investment. CDC and the Private Infrastructure Development Group (PIDG) have a key role in crowding in other investors and demonstrating that investment in low carbon, resilient development is possible. CDC has invested over $500 million in renewable power over the last 2 years, and PIDG $300 million.<\/p>
The recently published UK Green Finance Strategy outlines how we will position the UK at the forefront of this global shift, catalysing the investment needed to transition to a net zero economy.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4044", "label" : {"_value" : "Biography information for Andrew Stephenson"} } , "answeringMemberConstituency" : {"_value" : "Pendle"} , "answeringMemberPrinted" : {"_value" : "Andrew Stephenson"} , "dateOfAnswer" : {"_value" : "2019-08-05", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-08-05T16:18:03.287Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "20"} , "answeringDeptShortName" : {"_value" : "International Development"} , "answeringDeptSortName" : {"_value" : "International Development"} , "date" : {"_value" : "2019-07-17", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Developing Countries: Climate Change"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for International Development, what plans he has to investigate alternative sources of climate finance from (a) public and (b) private sources.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4403", "label" : {"_value" : "Biography information for Chris Law"} } , "tablingMemberConstituency" : {"_value" : "Dundee West"} , "tablingMemberPrinted" : [{"_value" : "Chris Law"} ], "uin" : "278526"} , {"_about" : "http://data.parliament.uk/resources/1125290", "AnsweringBody" : [{"_value" : "Department for International Development"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1125290/answer", "answerText" : {"_value" : "
Tackling climate change is a priority for the UK Government and for the Department for International Development (DFID), and we are already providing significant assistance to developing countries to help them deal with climate change. It is clear however that the world is not on track to avoid dangerous climate change and environmental damage. The Secretary of State wants to see what more we can do with the UK\u2019s aid budget and how we can encourage others to take more action. The UN Climate Action Summit in September is a critical moment to increase global ambition and I am pleased that the UK playing a leading role in shaping the agenda on how to build resilience to cope with climate change already locked in.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2019-05-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-05-13T16:01:26.727Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "20"} , "answeringDeptShortName" : {"_value" : "International Development"} , "answeringDeptSortName" : {"_value" : "International Development"} , "date" : {"_value" : "2019-05-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Developing Countries: Climate Change"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Secretary of State for International Development, what recent assessment he has made of the potential effect of climate change on his Department's aid (a) strategy and (b) funding.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/308", "label" : {"_value" : "Biography information for Mr Jim Cunningham"} } , "tablingMemberConstituency" : {"_value" : "Coventry South"} , "tablingMemberPrinted" : [{"_value" : "Mr Jim Cunningham"} ], "uin" : "251909"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 2, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }