(3 weeks, 5 days ago)
Commons Chamber
Katie White
I will absolutely congratulate Winchester city council on leading on this. Councils play a hugely important role, and I am looking forward to meeting many of them to discuss this issue when I visit the Local Government Association later this week. We have £1 billion of funding for community energy projects, and we are bringing forward more measures to accelerate progress, because this really is an opportunity to tackle the climate crisis, bring down energy bills and contribute to energy security.
I commend the Minister and the team on their approach. Tackling climate change needs to be a national and international effort. We should all be pulling together on this goal. Is it not time to call out some of the Opposition parties and their friends in the right-wing media for engaging in a propaganda wave of climate change denial? That poses a real risk to our future jobs, economy, fuel security and way of life.
Katie White
I thank my hon. Friend, who has raised this issue on many occasions in this House, and who is a friend of mine from across our great city. It is really important that we work at international, national and local level. Across our country, we all have a responsibility for the words and phrases that we use, and a responsibility to tackle misinformation and be honest about the challenges. That is not to say that we cannot disagree, but we could do so far more agreeably.
(1 month, 1 week ago)
Commons Chamber
Katie White
I will make some progress.
Postponing difficult decisions has never been how our country has met its greatest challenges. We have always been strongest when we have looked beyond the immediate horizon, recognised the risks ahead and taken practical steps to prepare for them. That is what the carbon budget framework represents: a science-led budget to reduce emissions by around 87% between 2038 and 2042 compared with 1990 levels, including in international aviation and shipping. The framework is in line with the advice from the independent Climate Change Committee and is endorsed by the Environmental Audit Committee, which I thank for its rigorous scrutiny, including in the evidence session that it held with me last week.
Alongside the carbon budget framework, the regulations before the House today will formally include the UK’s share of international aviation and shipping emissions in carbon budgets from carbon budget 6 onwards, while the Climate Change Act 2008 (Credit Limit) Order 2026 will ensure that carbon budget 5 is met through domestic action, allowing the UK economy to capture the full benefits of the transition.
Katie White
I will keep going.
In determining the level of the seventh carbon budget, we assessed different pathways for Britain’s future. What the analysis showed was remarkably clear: whether viewed through the lens of economic growth, national security, public health or long-term prosperity, the benefits of continuing on Britain’s path to net zero significantly outweigh the benefits of abandoning it. Let me explain why.
The first reason is business uncertainty. This framework provides something every successful economy depends on and every serious business asks for: certainty. Investment flows not to the country with the lowest costs or the biggest market, but to the country with a plan. It flows to the country where business investors and entrepreneurs can look 10, 15 or 20 years into the future and have confidence about the direction of travel.
Yesterday, in a career highlight, I was proud to open the London stock exchange to mark London Climate Action Week. It also celebrates a remarkable finding in new analysis by the London stock exchange, which is that the global green economy is now worth more than $10 trillion. Its analysis has found that green revenues grew by 5.3% in 2025, despite energy shocks, market volatility and geopolitical tensions. Here in the UK, I am proud to announce that this Government have officially secured £100 billion of private investment in clean energy since taking office.
The message from investors could not be clearer: the race is on. Capital is flowing towards the countries that are building, planning and backing the industries of the future, and that is one of the great strengths of the Climate Change Act and the carbon budget framework. For almost two decades, that has provided a stable and predictable signal about where Britain is heading, giving businesses the confidence to invest, innovate and grow.