Climate change is one of the greatest challenges we face, and I can assure you that I recognise the importance and urgency of action.
The recent report from the UN's Intergovernmental Panel on Climate Change found that the world is warming faster than previously anticipated and climate change is already affecting every region of our planet. I agree that this stark report must be met with immediate global action.
I am therefore pleased that the UK continues to play a world-leading role tackling climate change. We were the first G7 country to legislate to achieve net zero by 2050, and we are decarbonising faster than any other G20 country. In addition, we have set ambitious climate targets in law, such as a commitment to reduce emissions by 68% by 2030, and 78% by 2035, compared to 1990 levels.
Getting to net zero by 2050 is feasible and consistent with avoiding most damaging climate change. Aiming for zero emissions by 2030 is almost certainly impossible, disruptive, not required by the science, economically unfeasible and risks undermining consensus.
As President of this year’s COP26 the UK is working to ensure other countries, particularly the G20, urgently submit new or updated 2030 targets (Nationally Determined Contributions).
To continue momentum, the Prime Minister established the Cabinet Committee on Climate Change to ensure all arms of Government are focussed on tackling this challenge.
The 2021 Budget also reinforced the UK’s strong track record, with announcements including £640 million for tree planting and peatland restoration, more than £1 billion to support the transition to electric vehicles, at least doubling funding for energy innovation, and tax measures to reduce plastic waste. The Chancellor also announced the issuance of £15 billion of green gilts to help support vital projects to tackle climate change, to fund critical infrastructure investment, and create green jobs across the UK.
In addition, the Prime Minister's Ten Point Plan lays the blueprint for how we will achieve net zero. The plan will mobilise £12 billion of Government investment to create and support up to 250,000 highly-skilled green jobs in the UK, and spur more than three times as much private sector investment by 2030. Included in the plan is £160 million investment into offshore wind which will create 60,000 jobs, a commitment to produce enough offshore wind to power every home, quadrupling UK production to 40GW by 2030.
At the same time, the Environment Bill has been introduced to protect and improve the environment for future generations, enshrining in law environmental principles and legally-binding targets.
The next decade will be decisive and every country, business and citizen must come together to tackle this huge threat to our planet and humanity.
The actions described above demonstrate how seriously the UK Government is treating this crisis.