Mr Philip Dunne (Ludlow) (Con)

21. Will the Minister respond positively to the report of the Environmental Audit Committee on green finance, particularly by encouraging investment institutions such as pension funds to consider the long-term risks that climate change may pose to their investee companies? ( 906798 )

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John Glen (Conservative)

Absolutely. Only two hours ago, the Department for Work and Pensions published its consultation response on pension trustees’ duties, which clearly sets out the Government’s intention to raise the profile of financially material climate change factors in investment decisions.

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Douglas Chapman (Dunfermline and West Fife) (SNP)

19. The Minister will be more than aware of the Ernst and Young report earlier this year indicating that Scottish GDP, including Scotland’s geographical share of renewable energy, oil and gas, grew at 3.4% as opposed to the UK’s 3.1%, despite lots of inaction from the current Government. Will the Government provide Holyrood with the powers over energy revenues to ensure that Scotland can continue with this lead in economic growth and make sure that the green energies of the future are invested in properly? ( 906796 )

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John Glen (Conservative)

Absolutely. Green energy is very important to the UK economy as a whole; it is just very unfortunate that the rate of growth in the Scottish economy is half as strong as in the rest of the United Kingdom.

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