Thank you to everyone who has contacted me about tackling climate change, especially after the recent extreme weather.
I welcome that the Government has accepted the Independent Climate Change Committee’s recommendation to set the seventh carbon budget at a level so that greenhouse gas emissions with be reduced by 87% by 2040. This is part of the Government’s long term legally binding decision to reach net zero by 2050, which is an important part of the global mission to tackle climate change.
Crucially, this decision will help us reduce our reliance on volatile fossil fuel markets. As we have seen from the recent energy price shocks caused by the wars in Ukraine and Iran, our economy remains too reliant on fossil fuel markets that can be exploited by hostile states to undermine our economy and our security. By accelerating the transition to clean, cheap, home-grown energy, we can shield households and businesses from future price shocks.
At the same time, reaching net zero will deliver long-term economic benefits and ensure the protection of the planet for years to come. The transition to a low-carbon economy is an opportunity to support economic growth, create skilled jobs, improve public health and protect the natural environment. My focus as an MP is to support the government to deliver on the ambitious climate goals that they set out in Labour’s general election manifesto. I am pleased that the government has already:
- Set up Great British Energy, a publicly-owned energy company that will invest in the clean, green power we need. It is funded using an initial investment of £8.3 billion, Great British Energy will help us hit our target of getting to net zero carbon emissions from energy by 2030, secure our energy independence, and slash consumer energy bills.
- Founded a National Wealth Fund, like those of other European countries, to invest in the green transition and our future economic prosperity. The fund will create up to half a million jobs in Britain’s industrial heartlands and unlock billions in additional private sector investment to boost our steel, automotive, energy, and manufacturing industries.
- Announced our Warm Homes Plan, which will reduce household energy usage by properly insulating people homes, particularly the most vulnerable households.
- Introduced a proper windfall tax on fossil fuel energy profits to fund the green transition and ban new drilling in the North Sea.
So please rest assured that I will always stand up for action on climate change and the mission to deliver cheap, clean, homegrown energy.