My Lords, I tabled Amendment 166, which would amend Clause 48. I thank the noble Baronesses, Lady Jones and Lady Hayman, and the noble Lord, Lord Whitty, for supporting it. As ever, it is a great pleasure to follow the noble and learned Lord, Lord Hope of Craighead.
Clause 48 gives powers to Ministers to provide financial assistance across the UK for a number of purposes, including all economic development and provision of infrastructure. My amendment would set out on the face of the Bill that any financial assistance to be provided must be consistent with the achievement of any applicable climate and environmental goals and targets. As we all now know, we are in the midst of a climate and nature emergency. These powers to provide assistance would be subject to almost no restrictions. The recently published Global Biodiversity Outlook 5 report from the UN highlighted how we have failed to halt environmental decline over the last 10 years, and the 2020 progress report by the Committee on Climate Change says that clear investment priorities to help support economic recovery and the transition to a low-carbon economy are now essential. We need to ensure that financial assistance helps, not hinders, this progress.
My concern is that, if we do not have this amendment, the Government could risk supporting projects, companies or industries that threaten in some way or another to undermine the progress towards meeting our environmental and climate goals. Providing financial assistance for projects that are not consistent with our climate and environmental goals could have major environmental impacts, for instance on roadbuilding, transport and housebuilding. It is also really important that the goals and targets include countries’ respective own targets on net zero—for instance, new targets set under the Environment Bill such as the Welsh recycling targets, which are extremely good.
This is an opportunity to support a progressive domestic climate and environmental policy in all parts of the UK, which is tremendously important ahead of COP 26; Amendment 166 could help achieve this. Indeed, if we do not have an amendment such as this when we turn up in Glasgow this time next year, we could be in a very embarrassing situation. What assurances can the Minister give that these powers will be exercised in a manner that is consistent and compatible with any climate and environmental goals and targets applicable in the relevant parts or part of the UK?