COP 29

Lord Browne of Ladyton Excerpts

Thursday 28th November 2024 Lords Chamber

[Lord Hunt of Kings Heath (Lab)]

My Lords, I readily acknowledge the noble Lord’s personal commitment and thank him for it. I do think a consensual approach to this is really important in giving long-term stability both to our country and to industry, in terms of the policies that we are taking forward.

On Article 6, at COP the parties agreed outstanding rules to fully operationalise it. This can enable higher global mitigation ambitions and facilitate flows of finance, particularly to emerging and developing economies. We obviously very much welcome this outcome. It delivers high-integrity rules to govern international carbon markets, which are underpinned by environmental integrity, as he said. Obviously, in terms of what we now do, we will be taking this forward. However, alongside some of the disappointments that have been expressed about the outcome, this is a very important one.

[Lord Browne of Ladyton (Lab)]

My Lords, I draw attention to my entry in the register of interests, particularly as working vice-chair of the Nuclear Threat Initiative. According to the IAEA, nuclear power must significantly expand to new markets if climate rules are to be achieved. Currently, there are 31 countries using nuclear power. We learned from COP 28 and COP 29 that around 30 so-called newcomer countries are either embarking on or considering its introduction, and some are already building their first nuclear reactors.

As nuclear energy expands to new locations, it is critical that non-proliferation in nuclear security practices and standards keeps pace. This will require significant extension. Moving in the wrong direction could foster a world with more weapons-usable nuclear materials that are less secure, more countries with the ability to produce these materials and perhaps even more nuclear weapon states. Engaging with Governments who have established nuclear energy to promote key non-proliferation standards is essential. What steps are we taking in that regard? We need to make sure that Atoms4NetZero does not turn into “Atoms for Peace”, which left many dangerous materials lying about all over the world.

[Lord Hunt of Kings Heath (Lab)]

My Lords, I am very grateful to my noble friend. I understand that six more countries signed the nuclear agreement declaration at COP. These are the countries that have pledged to triple nuclear energy by 2050. It is quite clear that there is a global renaissance occurring in nuclear energy. I have attended a number of international conferences where there is a lot of interest in countries like ourselves, who have turned back to nuclear, in countries that have not had nuclear power stations. This has great potential for the UK. We have great potential for exporting technology and expertise and, in relation to what my noble friend said, efficient systems of regulation. I assure him that we are encouraging business and agencies here to do all that they can in an international setting. I have met a number of Ministers from countries who are going back to or starting nuclear on that. In relation to non-proliferation, the work of the IAEA is critical. I assure him that the United Kingdom plays a very strong role in it and contributes to it extensively.