Climate Change Bill [HL]

I am concerned about this amendment; it worries me. The noble Earl will know that I have sought to be objective throughout the Bill’s proceedings, but he referred to ““regard to””. The amendment refers specifically to ““damage to””. I wonder whether the lawyers might make more than a few bob out of this amendment in the event that it is included in the Bill. I shall get back to the basics of the amendment in relation to two terms—““wealth”” and ““the economy””. The amendment states that the proposals, "““must operate so as to avoid so far as is reasonably practicable any risk of damage to … wealth and””—" in proposed new paragraph (c)—““the economy””. Some private property may lose value as we implement a policy on climate change. Certain types of private residences, in comparison with other movements in the housing market, might be at a disadvantage because of the nature of their construction. Certain types of businesses owned by individuals, which would come under the general heading of ““wealth””, might be affected by the implementation of this policy and would obviously lose out. On the wider issue of the economy, what is meant by ““economy””? We have many economists among us today and perhaps my noble friend will get up and embroider the case that I make, with his knowledge of economics. As I understand the economy, it is about activity in industry, so what about the power generation industry? It may well lose a lot of business as a result of the inclusion of such an amendment. It may decide that it wants to go to law to prevent the implementation of a particular policy because it damages its interests, citing the inclusion of ““economy”” in the amendment. What about other industries involving building materials, supplies, heating, some white goods or freight transport? They are all part of the national economy and may well argue that they are being damaged, yet the law will protect them if the amendment is included. The law will refer specifically to, "““damage to, or deterioration of””," their interests. I think that the Opposition have gone a little too far with this amendment, and I hope that the noble Earl will withdraw it.