My Lords, I must acknowledge that, for the past 14 years, the UK has been a global leader in this area. We are the only major economy to have halved carbon emissions since 1990. In that time, the US’s emissions have stayed the same and China’s have tripled. In fact, we account for just 1% of global emissions. Despite this, we have seen that other countries are not persuaded just because the United Kingdom is going further and faster than others; they are persuaded by living standards and prosperity.
At COP, the Secretary of State announced a new target to cut our greenhouse gas emissions by 81% by 2035, but he has not explained what this will cost the British public. Why is this? He also argues that he will deliver savings through energy policy, and that those plans will boost jobs, growth and national security, and will cut household energy bills. This is very debatable.
The Institute for Fiscal Studies has said that the Secretary of State’s climate agenda will not lead to growth. There were also concerns about the National Energy System Operator’s report, which shows that the Government’s rush for clean power by 2030 will add costs to our energy system. In addition, the head of offshore wind development at RWE has warned that the RHG’s rush to meet the 2030 target will lead to price spikes, with consumers losing out. Yet, despite the costs, His Majesty’s Government’s plans would still leave gas pricing the system around 50% of the time, or they would leave the equivalent of a million of homes in the dark, waiting for the wind to blow or the sun to shine.
Billions of pounds of British taxpayers’ money will go to China, the world’s largest polluter, powered 60% by coal, which dominates clean-tech supply chains. Will the Minister set out an assessment of the increased reliance on coal-powered Chinese imports for the Government’s clean power by 2030 goal? What does this mean for global emissions?