Select committee: Foreign Affairs Committee
Recommendation 11
Seventh Report: A climate for ambition: Diplomatic preparations for COP26
Published 19 Apr 2021
Paragraph 30
Addressed to Foreign, Commonwealth & Development Office
Foreign Affairs Committee Environmental diplomacy All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
COP26 must aim to secure a form of realistic pricing of carbon output that prevents carbon offshoring and fully prices in the cost of the production of goods and transport. Building on the G7 and G20 to ensure the burden is carried by the commissioning country, and to incentivise change in producing nations, will change a simple equation based on the cost of energy to one based on the cost to the planet. The UK’s financial services sector, and particularly its insurance industry, is well placed to understand these costs. Using new forms of finance to look at cost-sharing based on innovative ledgers would provide an opportunity to realise the impact and share the reward of growth, while encouraging cross-industry and jurisdictional cooperation on climate targets.
From: Foreign Affairs Committee, Seventh Report: A climate for ambition: Diplomatic preparations for COP26 (HC 202), paragraph 30, 19 April 2021
Government response
The government responded to the whole report on 25 June 2021 (deadline 19 June 2021).
Summary written by Accountability Index from the government's response. It is not the government's own words.The government's response sets out its work towards COP26 and makes a number of specific commitments, while stating that carbon pricing "is not a mandated discussion for COP26, and so will not be an outcome".
- On integrating climate into wider foreign policy, the government says "We agree about the need to take a holistic approach" and cites a Fossil Fuels Policy from 31 March 2021 and a new rule on aligning ODA with the Paris Agreement.
- On future presidencies and the African COP27 Presidency, it will "continue to use the UK's diplomatic convening power after COP26", but "Specific decisions on resourcing and structures beyond this year will be taken as part of the next Spending Review".
- On the international development strategy, it will "set out what this means for the UK's international development offer in our forthcoming international development strategy", without giving a date.
- On Covid-19, its "intent remains to hold the main conference in person"; it will provide vaccines for delegates unable to access them, and will give further details on contingency planning to Parliament "in due course".