Mrs Spelman

That is precisely why the UK Government have expressed their disappointment that the proposed CAP reforms lack ambition. Although the commissioner correctly identifies food security and climate change as the two key challenges that agriculture faces, I regret that the proposals do not really address the great challenge. Therefore, we will seek to improve them to get the best possible outcome for taxpayers, consumers and farmers alike.

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Mrs Spelman

Two things have emerged. We had more than 2,000 replies to the consultation, which showed that carbon is reported in very different ways. One challenge is to find a way in which it can be reported meaningfully so that investors know which company to invest in, because they understand the information they receive. Secondly, the Department for Business, Innovation and Skills is consulting on the content of company accounts—narrative reporting, as it is known. We need to synchronise the issue because carbon reporting would be in a set of company accounts. I perfectly understand the requirements of the Climate Change Act 2008 in that regard.

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Mary Creagh (Labour)

Climate change is the biggest market failure the world has seen and the Secretary of State’s decision on whether to introduce carbon reporting to correct the failure is imminent. That decision is a once-in-a-Parliament opportunity to create green growth and drive the development of low-carbon products and services across UK plc. With youth unemployment at record levels and mandatory reporting supported by Britain’s largest employers, how many jobs does she estimate would be created in the UK’s green economy if it was introduced?

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The Secretary of State for Environment, Food and Rural Affairs (Mrs Caroline Spelman)

My Department takes responsibility for safeguarding the environment, supporting farmers and strengthening the green economy. In that context, I will attend important climate change negotiations in Durban next week. The items on the agenda include sustainable agriculture, as well as the protection of international forestry. In addition, I will have a series of bilateral discussions as part of the preparations for Rio plus 20, on which I will lead, and, of course, update the House on my return.

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Graeme Morrice (Livingston) (Lab)

T8. Business groups have warned that the Government’s decision to delay the establishment of marine conservation zones will impede investment in marine industries, including renewable energy and sustainable fishery projects. Does the Secretary of State agree? ( 82297 )

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