Andrew Bowie

No, obviously that would not be fair, but as has already been pointed out, the Advertising Standards Authority has demonstrated that it possesses both the mandate and the mechanisms to hold companies to account for misleading environmental claims, and as yet it has found none to be in breach. It is important that those companies, which require the underlying profit from their traditional exploration and drilling work to support their investment in the clean technologies of the future, are allowed to tell the country and the world about that. We should be immensely proud that we have not only a world-leading oil and gas sector—the cleanest basin from which to extract oil and gas in the world right now—but one that spends billions on developing the clean technologies of the future and attracts international companies to the United Kingdom to do the same. If the issue is the accuracy of advertising, we should have confidence in the existing regulatory framework, which has proven capable of intervening where necessary. A blanket ban is neither proportionate nor necessary when robust oversight is already in place. I am afraid that the ban advocated by the petition may be purely ideological. It would damage investor confidence and be counterproductive in reducing carbon emissions. I am proud that BP, Shell, Total, Equinor and the rest invest in music, art, culture, education and sport across the UK—and let us look at what happens when they do not. Baillie Gifford, a global investment management firm that invests in some of Scotland and the UK’s biggest companies, which just happen to be oil and gas companies, was sadly forced, under pressure from environmental activists, to withdraw support for the Edinburgh international book festival. Who has had to step up at the last minute to plug the gap? It is the Scottish Government—the taxpayer—to the tune of £300,000 this year alone, at a time of tightening budgets, fiscal constraints and a difficult financial outlook for the country. When there was money already available, that is utter madness. The oil and gas industry, which is based in and around Aberdeen but has a presence across our entire island nation, is a national asset. We should be championing it and the people who work in it, not demonising them. We should be proud when we see the names of successful British companies supporting British artists, musicians and sportspeople, and when we see them investing in communities, schools and our country. We should absolutely allow them to tell the world of the globally significant investment that they are making in the clean technologies of the future, and we should not have any truck with this petition.