I, too, congratulate my hon. Friend the Member for Bishop Auckland (Helen Goodman) on securing this debate. In my experience, if we ask most people what they want politicians to do, we find that they want us to work together to tackle the really big challenges, and that is quite hard in this place, as any newly elected Member soon comes to appreciate. However, there was one moment a few years ago when this place really did come together; as my right hon. Friend the Member for Doncaster North (Edward Miliband) pointed out, the Climate Change Act 2008 was supported by almost everyone in this House, and rightly so. It was groundbreaking legislation, setting out the structure we need to tackle one of the key problems of our age. The Climate Change Committee, by setting out the carbon budgets—we anticipate the next one soon—creates the framework within which investors and innovators can operate with some certainty, and without which we would not be able to make progress. It is a model of how a modern competitive economy can operate, with markets regulated in the interests of the common good. It is good for citizens, good for the environment and good for business; this is the model of how a modern economy looks to many of us in the Labour party.
How disappointing, then, that even with this excellent model, recent actions by the Government have taken us backwards. Their erratic U-turn on renewable subsidies; the selling off of the Green Investment Bank; the green deal disaster and binning of the decade-long zero-carbon homes plan have left the green energy sector infuriated and non-plussed, and left investors nervous. We are already lagging behind Germany, India, Japan, China and the United States in green investment, and cutting our commitment to renewable energy is hardly likely to improve matters.
Yet, what an opportunity we have. There is huge interest in these issues in Cambridge, and I commend to the Secretary of State the Cambridge climate message, which is supported by an impressive array of local organisations. They are clear that they want COP21 to be a success, not a cop-out. Cambridge and the wider East Anglian region is at the forefront of the clean-tech revolution, with more than 1,000 businesses already active in the sector, ranging from product development specialists to multinational enterprises with global reach. Some 10% of the UK total of low carbon and environmental goods and services companies are in the region, which means that the per capita concentration of companies is twice the national average. That emerging cluster is supported by a network of world-class universities and research centres, a highly skilled workforce and some of the world’s leading technical consultancies. Growth there can be built upon to bring about a halo effect for similar success outside our region, but it depends upon attracting investors. At the moment, these investors are scratching their heads and closing their wallets when faced with the Government’s constantly shifting policies on green energy.
I recently met people from Cambridge Cleantech, a highly effective members organisation supporting the growth of clean-tech companies in the greater Cambridge area, with the clear ambition further to develop Cambridge as a leading clean-tech centre in Europe. To fulfil that ambition they need to see better-defined, more stable Government policies that influence confidence in clean-tech investment.
Not subsidies. One of the outstanding local projects, Cambridge Retrofit, is a network of public and private sector organisations working together to bring at-scale retrofits to the building stock of the Cambridge community.
I thank the right hon. Gentleman for his intervention. What we know is that when the private and public sectors work together effectively, we get a market that works. The problem in the current situation is that without investor certainty, the market does not work.
Let me return to talking about Cambridge Retrofit, which I commend to the right hon. Gentleman. Led by Professor Doug Crawford-Brown at the Cambridge Centre for Climate Change Mitigation Research, it is helping the UK to meet its CO2 emission reduction targets, while helping the community reduce energy bills and supporting local businesses. When completed, the project will make a massive 20% to 30% reduction in carbon emissions in the Cambridge area. This shows that it can be done; it is about political will and political leadership, and that is what we need in the run-up to Paris.
We need—in fact, the wider world needs—to hear from this Government a clear assurance that they intend to prioritise innovation and reinstate long-term policies that will demonstrate their confidence in clean, green energy and technology. Attracting investment to this sector will help us deliver on our national energy, economic and environmental ambitions, and help the UK meet its international obligations and achieve a just transition. This House has shown before that it can rise to the challenge to come together to meet the great challenges of our age. My question is: can the Government?