COP29

Debate between Ed Miliband and Sally Jameson

Tuesday 26th November 2024 Commons Chamber

[Ed Miliband]

I understand why the hon. Lady expresses that disappointment—indeed, a number of developing countries expressed that disappointment. However, I think that this is a considerable scaling-up of resources. That is to state the obvious, because $100 billion was the previous commitment. It is the provision and mobilisation of resources. She is right about the balance between grants and loans, and about the funds that are required for adaptation, but the truth is that public finance on its own will never meet the need. That is why the agreement on carbon markets that was part of this COP is important, and why the mobilisation of private finance, and working on a road map to that mobilisation, which is also part of the agreement, is so important.

[Sally Jameson (Doncaster Central) (Lab/Co-op)]

I welcome the Secretary of State’s statement and acknowledge that the UK is lucky to have unique resources that put us at the forefront of the energy transition. Does he acknowledge that industrial heartlands such as ours in Doncaster were let down by the last Government, with promise after promise and announcement after announcement, but no delivery? Will he set out what the Labour Government will do to back British industry and, more importantly, coalfields such as those in our constituencies?

[Ed Miliband]

My hon. Friend and constituency neighbour is absolutely right about that. This is where the opportunities are huge. For South Yorkshire, there are opportunities around hydrogen, carbon capture and storage, and the jobs in insulating homes. We know that many of our industrial heartlands have been crying out for good jobs and good wages, and they have been crying out for them for a long time. This is the opportunity to make that happen.