Investments by UK development finance body have ‘harmed society and environment’

  • 📰 Glasgow_Times
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

MPs have warned that British International Investment holds some ‘questionable investments’ including in fossil fuels.

The UK’s development finance institution is using taxpayers’ money for some “questionable investments” including in fossil fuels and a cosmetic surgery firm in India, MPs have warned.

But the Committee said BII holds some legacy investments that conflict with the Government’s climate goals, including in the development of gas infrastructure in Mozambique. The Committee also raised concerns that the body’s investments are not always benefiting the world’s poorest people. Committee chairwoman Sarah Champion said: “Evidence to this inquiry has raised the concern that there is not enough oversight from ministers on BII’s investments.

The Committee called for the FCDO to increase its oversight of BII and take a non-voting seat on its board. “Coherence of BII’s investments with the Government’s own commitments on fossil fuels, climate, sustainable development goals, or poverty reduction will never be possible with the Government’s current hands-off approach.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 76. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Investments by UK development finance body have ‘harmed society and environment’MPs have warned that British International Investment holds some ‘questionable investments’ including in fossil fuels.
Source: Observer_Owl - 🏆 18. / 72 Read more »

Aid cuts and department merger have harmed UK’s reputation, says watchdogThe Government added to external pressures on the development programme with political turbulence, budget reductions and Brexit, a report said.
Source: Glasgow_Times - 🏆 76. / 59 Read more »

Aid cuts and department merger have harmed UK’s reputation, says watchdogThe Government added to external pressures on the development programme with political turbulence, budget reductions and Brexit, a report said.
Source: Observer_Owl - 🏆 18. / 72 Read more »