Ed Miliband (Labour)

Accelerating to net zero offers huge opportunities for Britain. This transition will be one of the economic opportunities of the century—a chance to create hundreds of thousands of good jobs, to drive investment into all parts of the UK and to protect the UK economy from future price shocks that reliance on fossil fuels creates. Beyond growth and energy security, the transition to a net zero economy can deliver a range of social and health benefits for people right across the UK. As we act on how we heat our homes and buildings, fuel our transport and protect our natural world, we can cut fuel poverty, clean up our air, increase access to nature and improve quality of life.

Looking beyond the UK, we also have an important role to play. For example, the UK was the first country to set legally binding carbon budgets and the first major economy to establish a net zero target in law. Now, more than 90% of the world’s economy is covered by a net zero commitment. The UK showed leadership again at COP29, where we announced that our 2035 nationally determined contribution (NDC) headline target will reduce all greenhouse gas emissions by at least 81% on 1990 levels, excluding international aviation and shipping emissions. This is an ambitious, economy-wide emissions reduction target that aligns with the recommendation of the Climate Change Committee (CCC) and the sixth carbon budget, set by the previous Government.

In response to the CCC’s 2024 progress report, today’s publication highlights the achievements that this Government have overseen already and looks forward to upcoming actions that will be key in reducing our emissions and seizing the economic opportunities of net zero.

This is just the beginning. Over the coming months we will set out the next steps for our mission, including publishing a Clean Power 2030 action plan, setting out a detailed updated plan to meet our carbon budgets, and setting the pathway to the seventh carbon budget by June 2026. These future moments will be key in delivering our pathway to net zero, bolstering growth and clean jobs, ensuring energy security, and delivering social and health benefits.

As required by the Climate Change Act 2008, I will place copies of today’s publication “Accelerating to Net Zero: Responding to the CCC Progress Report and delivering the Clean Energy Superpower Mission” in the Libraries of both Houses.

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