6th Report - Green finance: mobilising investment in clean energy and sustainable development

Summary written by Accountability Index from the government's response. It is not the government's own words.

The Government welcomes the Committee's inquiry and says green finance is a key priority, while it is still considering the Green Finance Taskforce's recommendations before responding to them.

• On consulting before the 2019 CfD auctions, the Government "notes" the recommendation but says there "may be a wide range of ways" to bring forward new low carbon generation, and that it "will continue to engage with stakeholders".
• On carbon pricing, it will target a Total Carbon Price until unabated coal is no longer used in power generation, and says extending carbon pricing across the whole economy would pose "significant practical challenges".
• On the European Investment Bank, it "considers that it may prove to be in the mutual interest of all sides" to keep "some form of ongoing relationship" and will "explore these options with the EU" in negotiations.
• On a sovereign green bond, it "continues to consider" the option, and would first need to be satisfied of "cost-effective financing for the taxpayer" and "sustainable demand".

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