Let me reply, first, by saying that your implication that I am someone who cannot be trusted to tell the truth is one that I find deeply offensive.

The facts are as follows.

1. There is no connection whatever between Central Europe Trust Co Ltd, of which I have been Chairman since 1990, and the Global Warming Policy Foundation, of which I have been Chairman since its inception in 2009. I would add that I disposed of my shareholding in Central Europe Trust Co Ltd some time back.

2. As I pointed out to John Prescott, who raised this non-issue under cover of parliamentary privilege more than two years ago, Central Europe Trust Co Ltd is an advisory firm which, over the years, has had clients in most industries, although its main focus has been telecommunications. It has not, in fact, had any oil company clients for many years now; and at the present time its only involvement in the energy industry is a very small interest in wind and other renewables in central Europe.

3. CET Polska, which was originally a subsidiary of Central Europe Trust Co Ltd, has for some years now been controlled and majority owned by its Polish partners, and the only connection between the two entities now is collaboration on an ad hoc basis. I have no financial interest in CET Polska, and am neither a Director of, nor a shareholder in, the company.

4. As with other think tanks, the Global Warming Policy Foundation is composed of its Board of Trustees and its employees, headed by its Director. The Academic Advisory Council is a group of entirely independent individuals, holding a wide range of views, one or more of whom may be asked from time to time to undertake peer review of a forthcoming GWPF publication or some similar task. Needless to say, no member of the AAC would be asked to undertake anything where there was a possible conflict of interest. It may be that, given his new responsibilities, Professor Plimer will choose to step down from our AAC; but that is a matter for him.