COP29

Alistair Strathern Excerpts

Tuesday 26th November 2024 Commons Chamber

[Ed Miliband]

The hon. Gentleman raises a really important point. As much as developing countries wanted the biggest possible sum to support them, they were as worried about the quality of finance and their access to funds as they were about the quantum. Time and again, I heard from developing countries that they wait years to access the available funds, so ensuring that they are spent on the right things and are accessible will be crucial work for the months and years ahead.

[Alistair Strathern (Hitchin) (Lab)]

I welcome the Secretary of State’s statement and the leadership that this Government showed at COP29, recognising that with the global transition under way, the economic benefits will accrue to those who lead and shape it, rather than shy away from it and remain all too passive in the face of the economic forces that it heralds. Can the Secretary of State set out how we will ensure that we capture those benefits domestically and show the necessary leadership to drive investment, growth and opportunity to every part of the UK, so that we have a coherent economic strategy that touches every part of our nation?

[Ed Miliband]

Both parts of what my hon. Friend says are right. Since we contribute only 1% of global emissions, we must work with others to ensure that we tackle this problem. The biggest thing I find in this job is that clarity of purpose and direction makes a huge difference to private investors. Uncertainty is the enemy of investment, while the certainty and direction that this Government are providing is the friend of companies investing in the UK.