COP29
Debate between Ed Miliband and Alex Sobel(3 weeks, 6 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Ed Miliband
The right hon. Gentleman and I have been debating these issues for 15 years, and I hazard a guess that we will not end up agreeing. The truth about the climate crisis is that it is the biggest potential cost that future generations can face. There will be trillions of costs across the world and tens and hundreds of billions of costs in the UK if we do not act. All the evidence is that the costs of acting on climate change are much lower than the costs of not acting.
Alex Sobel (Leeds Central and Headingley) (Lab/Co-op)
I was in Paris nine years ago when we started the process of negotiation on article 6 of the Paris agreement, which was concluded only with the gavel going down in Baku. It is an important process, ensuring a carbon market through the United Nations framework convention on climate change. How will the UK implement the new article 6 regulations? How will we support other countries in this important work, as we can utilise it for nature-based solutions such as reforestation and afforestation?
Ed Miliband
My hon. Friend makes a really important point—it may be a slight counter to the right hon. Member for East Antrim (Sammy Wilson). Beneath the headlines, this is where the hard yards of work at COP happened. It has taken 10 years to do these article 6 negotiations and complete them, but this is about voluntary carbon markets. In answer to my hon. Friend’s question, we are consulting on some of the high-integrity principles for that, but again, this will make a difference to developing countries and get funds flowing to them. That is another reason why these COPs are worthwhile.