VoteClimate: Miriam Cates MP: Climate-Related Speeches In Parliament

Miriam Cates MP: Climate-Related Speeches In Parliament

Miriam Cates is the Conservative MP for Penistone and Stocksbridge.

We have identified 10 Parliamentary Votes Related to Climate since 2019 in which Miriam Cates could have voted.

Miriam Cates is rated Anti for votes supporting action on climate. (Rating Methodology)

  • In favour of action on climate: 0
  • Against: 10
  • Did not vote: 0

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Miriam Cates's Speeches In Parliament Related to Climate

We've found 2 Parliamentary debates in which Miriam Cates has spoken about climate-related matters.

Here are the relevant sections of their speeches.

  • 7 Dec 2022: Financial Services and Markets Bill

    16:45

    Let us look at the resources in that sector. Globally, privately invested financial assets are expected to reach $145.4 trillion by 2025—a 250% growth in less than 20 years. In the UK, pension assets amount to a staggering £2.7 trillion. The financial challenge for decarbonising the economy is significant. The UN has estimated that, globally, we require £90 trillion of infrastructure investment by 2030 alone. In the UK, private investment in carbon-cutting activities needs to grow by an extra £140 billion over the next five years to reach our net zero goals. We should mobilise the huge resources in the finance system to meet the existential challenge of the climate crisis. Instead, financial institutions are adding fuel to the fire, as I mentioned.

    Britain is a financial giant and is the biggest net exporter of financial services in the world. I support new clause 6, tabled by my hon. Friend the Member for Hampstead and Kilburn (Tulip Siddiq), because we need a strategy for how we use that influence to reshape the system in accordance with climate priorities. However, those climate priorities are not the priorities in the Bill. Rather than making it a statutory aim of regulators to ensure compliance with our net zero aims and protect our natural environment, the Bill makes the main aim of regulation growth and competitiveness in the sector. In fact, although it is supposed to represent the Government’s vision for the future of financial services, it does not mention “nature” once. That is why I support new clause 25, which aims not for growth and competitiveness on its own, but for a regulatory regime designed for long-term economic resilience, climate safety and nature restoration.

    The science is clear: complying with our net zero and Paris agreement obligations means keeping dirty fossil fuels in the ground, so we should encourage divestment in fossil fuels and put an end to fossil fuel extraction. New clauses 21 and 26 have my full support because they rightly restrict and provide disincentives for that kind of harmful investment. We need not only to incentivise fossil fuel divestment, but to ensure that investors make demands of companies on climate action.

    I tabled new clauses 8 and 9 because we need to raise the bar on stewardship rules, putting ethical engagement with companies on the climate crisis and much more at the heart of investor activity. I support amendments 23 to 27 because they would reinstate the position limit rules on the kinds of awful things that we have seen relating to speculating on food and betting on hunger. We should stand firmly against that, especially given global heating.

    We need financial services that work for people and planet. As the clock ticks on climate action, now is the time to pull every lever and seize every opportunity to decarbonise our economy and society. However, the Bill has presented us with more of the same agenda—deregulation and lip service to climate goals. As the slogan goes, we need “system change not climate change.” I am afraid that without significant changes, the Bill will deliver the opposite.

    [Source]

  • 20 Oct 2021: Carbon Capture and Storage

    18:01

    I start by welcoming the announcements made yesterday in the net zero strategy, which set out the UK’s plan for carbon capture and storage. Like my hon. Friend the Member for Hartlepool (Jill Mortimer), I am delighted that the east coast cluster has been chosen as a track 1 cluster that will benefit from the Government’s carbon capture and storage infrastructure funds over the coming years. I also pass on my congratulations to the University of Sheffield Advanced Manufacturing Research Centre, a partner in that bid.

    The UK has committed to net zero by 2050, and we have become the first major economy in the world to pass legislation to reach such a target. The Government are right that we cannot reach that target by emissions reductions alone, so carbon capture and storage is vital to reducing our net output of greenhouse gases. It is simply impossible for many of our major industries to eliminate carbon emissions with current technology and energy use.

    The Humber region is one of our most important industrial areas, but it emits 12.4 megatonnes of carbon a year, or 40% of the UK’s industrial emissions. These industries are vital to our economy and our security, as well as to jobs and livelihoods. While of course the Government should support and encourage industries such as steel to reduce emissions, we must be realistic about what is achievable. That is why projects such as Zero Carbon Humber, which has the potential to absorb 50% of the industrial cluster’s carbon dioxide emissions, are so important. This is a brilliant opportunity for UK industry, and with Government investment the commercial barriers to using our geological reservoirs for carbon storage can now be overcome.

    In addition, the deployment of carbon capture and storage can deliver support for tens of thousands of new jobs, as many hon. Members have said. Not only is that good news for existing industries, but it offers huge potential for new ones. One of the key requirements for reaching net zero is to reduce our reliance on petrol and diesel cars and increase the use of electric vehicles. It is good news that £1 billion has been invested in Nissan’s plant in Sunderland, which aims to produce new generation all-electric vehicles in the not-too-distant future.

    If James Durrans & Sons is successful—I urge the Minister to pursue Government support for this important investment—we could complete the EV battery production process here in the UK, securing our supply chain and, of course, adding value and creating jobs. However, like many high carbon-based industries, the project relies on the ability to capture and store the greenhouse gases produced.

    That is why it is such good news for James Durrans & Sons and many other innovative companies that carbon capture is now a realistic prospect in the short term. As my hon. Friend the Member for South Cambridgeshire said, a science-based approach to carbon capture must be taken, so I am delighted that the Government have signalled such strong support for it. That is great news for our industries and for net zero.

    [Source]

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