Latest News Wed, Nov 13, 2024 7:16 AM
Tackling the climate crisis is essential to our national energy security, economic growth, and our efforts to protect current and future generations, the UK government said as it unveils the UK’s new climate goals at the COP29 Summit in Baku, Azerbaijan.
The announcement will strengthen the UK’s position as a place for investment in the technologies and jobs that are driving growth across the world.
There are 640,000 green jobs in the UK, growing at a rate 4 times faster than overall UK employment.
To support the industry the government has announced a significant investment programme in homegrown British energy – including renewables, carbon capture and storage, nuclear and hydrogen.
The UK’s reliance on fossil fuels has also been felt by every family and business in the last few years with the worst cost of living crisis in memory, driven by energy price spikes from international gas markets.
That’s why the government’s mission is to tackle the climate crisis in a way that makes the British people better off by investing in clean homegrown power and unlocking thousands of jobs, having already seen £34.8 billion of private investment into the UK’s clean energy industries since July.
This ambitious and pragmatic new target supports the UK’s mission for growth, helping to attract further investment and jobs in low carbon technologies such as solar and wind, electric vehicles and batteries.
Energy Secretary Ed Miliband said: “The only way to protect current generations is by making Britain a clean energy superpower, and the only way to protect future generations is by tackling the climate crisis.
“Britain is back in the business of climate leadership, with an ambitious new target that will protect our environment, deliver energy security and restore our global climate reputation.
“We will cut emissions across the country, delivering for our environment and ending our exposure to spiking fossil fuel markets.”
This ambitious and pragmatic new target – in line with the recommendation from the Climate Change Committee and previously legislated and legally-binding Carbon Budgets for the same period.
The target forms what is called the UK’s Nationally Determined Contribution (NDC): commitments that countries make to reduce their greenhouse gas emissions to mitigate climate change. It is aligned to 1.5C.
The UK has called for other countries to match the UK’s ambition to address the urgency of climate change, following stark warnings from the United Nations that the world is way off track to limit global temperature rises to 1.5C.
Since July the government has:
Globally, the costs of renewables continue to fall, with solar and wind now cheaper than existing coal and gas power plants in most of the world.
Recent analysis from the International Energy Agency found that in 2023 for every $1 spent on fossil fuels, $1.7 was spent on clean energy. Global energy investment is set to be over $3 trillion in 2024, with $2 trillion of this on clean energy technologies and infrastructure.
Simon McWhirter, Deputy Chief Executive of UKGBC, said: “Increased ambition is important, but it must be accompanied by strong policy and clear delivery plans to make much-needed progress. The announcement of the UK’s commitment to reduce emissions by 81% on 1990 levels by 2035 through its new nationally determined contribution (NDC) at COP29 is welcome. Ramping up our climate ambitions on the international stage is necessary – it’s the real world delivery that’s been woefully absent in recent years.
“The new 81% NDC emissions reduction target is in line with the recommendation made by the government’s official advisers, the Climate Change Committee, but must be accompanied with a detailed delivery plan and a sense of urgency to get us back on track for existing commitments. Strong policy, funding, and fiscal levers will be vital to seize this critical opportunity and set the bar for global climate action.
“With more than a quarter of carbon emissions coming from the built environment, this sector can play a key role in achieving these ambitious goals. The UN Buildings Breakthrough initiative, launched at COP28, recognised this potential, with a mandate to make near-zero-emission and resilient buildings the new normal by 2030. Our sector is central to much-needed action – and we can steal the march on these targets.”
Reacting to the pledge that the UK is to cut emissions by 81% compared with 1990 levels by 2035, Environmental Audit Committee Chair, Toby Perkins MP, said: “The new Government is making all the right noises to demonstrate that the UK means business in its ambitions to cut the UK’s emissions further. After the election, the Government’s prioritisation for the accelerated delivery of clean energy was encouraging. Today’s announcement at COP29 that the UK plans to cut its emissions by 81% from 1990 levels by 2035 has upped the ante in efforts to tackle climate change.
“Ambitious targets are only worthwhile if they are met, and a credible and reliable delivery plan for the UK’s increased Nationally Determined Contribution is essential. It is critical that policy decisions are made swiftly to support these commitments, and that the private sector is given the confidence to invest rapidly and consistently to spur green growth. We must ensure bang for the taxpayer’s buck in ensuring that the clean energy future is affordable for consumers and drives growth nationwide. It is promising that the Government has just announced a significant contract for wind turbine blades to be made in Hull, and I look forward to hearing how other areas across the UK could benefit from developments in the green economy.
“Our Committee will be watching the Government’s actions closely: time is fast running out to put the plans in place to ensure its climate goals can be met.”
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