Climate Change

Lord Goldsmith of Richmond Park Excerpts

Monday 24th June 2019 Commons Chamber

[Chris Skidmore]

We have obviously taken advice on the 2050 target from the independent Committee on Climate Change, which has suggested that at the moment 2050 is the earliest possible date for reaching net zero. Obviously, we are the first G7 country to make that commitment to 2050. Other economies, such as Norway, have committed to 2038. As part of the Government’s local industrial strategy, the Greater Manchester area committed, just last week, to a net zero target by 2038. I welcome the NFU’s commitment, but what we are saying as a Government is that all agencies across society will need to take action.

We welcome the NFU’s leadership on agricultural emissions and looking at how the agricultural sector can be decarbonised. However, when it comes to the framework of the Climate Change Act, as the right hon. Member for Doncaster North highlighted during the statement made by my right hon. Friend the Secretary of State, the review mechanism is built into the legislation to allow us the opportunity to review the target in five years. When it comes to the overall cost—and some hon. Members may wish to reflect on the costs of going from 80% to 100%—the review mechanism is important. The Committee on Climate Change has recommended that the overall cost envelope of reaching net zero be the same as the 80% envelope, because since the original 80% target was set out, the costs of renewables and other technology have come down.

[Zac Goldsmith (Richmond Park) (Con)]

My hon. Friend is making a hugely important point. Earlier he talked about the need to balance the need to reduce emissions with concerns about jobs. Does he agree that we have already seen the creation of 400,000 low-carbon jobs in this country, and that by leading the transition to a clean economy—which will happen whether we like it or not—there will be even more opportunities for job creation in the future?

[Chris Skidmore]

I thank my hon. Friend for making that excellent point, and he is right. When we consider any impact on wider society of introducing this legislation over the next few decades, while we may see short-term costs from the transformation, we need to look at the investment opportunities that will be created by new green jobs, which are expected to rise from the 400,000 figure he mentions to 2 million by 2030, potentially creating an economy worth over £150 billion in the longer term. It is important that that investment is recognised, because we want the UK to lead the world in future technologies such as carbon capture and storage. The legislation today provides a catalytic moment for us to look at how we can achieve this target and to invest for the future. The Treasury review will lead into the spending review and we will wish to look at how we can continue to invest in clean growth as a technology.