PM remarks at COP29: 12 November 2024
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I am here at COP this week… Because this government recognises that
the world stands at a critical juncture in the climate
crisis. And the United Kingdom not only has a critical role
to play… But also, an opportunity to grasp… The chance to
maximise opportunities for Britain… And make us more secure
in the here and now. The way I see it, there are two
paths ahead: One, the path of inaction and delay… Leading to
further...Request free trial
I am here at COP this week… Because this government recognises that the world stands at a critical juncture in the climate crisis. And the United Kingdom not only has a critical role to play… But also, an opportunity to grasp… The chance to maximise opportunities for Britain… And make us more secure in the here and now. The way I see it, there are two paths ahead: One, the path of inaction and delay… Leading to further decline and vulnerability – Warming above 1.5 degrees will expose hundreds of thousands more people in the UK to flood risk… greater economic instability… And national insecurity. Or second, the path we walk, eyes wide open… not just to the challenges of today…. But also fixed firmly on the opportunities of tomorrow. This is the path towards national security. Energy independence. And the economic stability necessary to boost living standards for working people. Let me be clear. There is no national security… There is no economic security… There is no global security… Without climate security. And this is a huge opportunity…. For investment… For UK businesses… For British workers… If we act now - to lead the world in the economy of tomorrow. This is how we move towards better jobs… cheaper bills… higher growth… the industries and technologies of the future…. And ensure the prosperity and security of our nation for decades to come. And the prosperity and security of our nation are the issues the British people care about. And that is why, from the beginning, this government has done things differently. Restoring our role as a climate leader on the world stage… As well as taking action at home. In the first 100 days of this government…. We scrapped the ban on onshore wind. We committed to no new North Sea oil and gas licenses. Began to renew those North Sea communities… with a programme of investment in the jobs and industries of the future. We closed the UK's final coal power plant at the end of September – Becoming the very first G7 economy to phase out coal power. And at the same time – we are on a mission to achieve clean power by 2030. We launched Great British Energy – A clean British Energy company… To improve our energy resilience Bring down people's bills… And create the next generation of good, well-paid jobs. We set up the National Wealth Fund – To invest in tomorrow's key industries. To build the infrastructure – the wind farms, solar farms, the grid infrastructure… To power and connect our country for decades to come. Because make no mistake - the race is on for the clean energy jobs of the future…. The economy of tomorrow – And I don't want to be in middle of the pack… I want to get ahead of the game. Whether that's with carbon capture – in Teesside and Merseyside. Where last month, I announced funding for Carbon Capture, Utilisation and Storage projects… That will create 4,000 new jobs - using the skills of oil and gas communities … As we accelerate towards Net Zero. Or green hydrogen – With investment announced in last month's Budget… For 11 green hydrogen projects across Britain… from Bridgend to Barrow in Furness. This is good news for the people of Britain. It's good for our businesses. It's good for our country. And it's good for the planet. So at this COP I was pleased to announce that we are building on our reputation as a climate leader… With the UK's 2035 NDC target – To reduce all greenhouse gas emissions by at least 81% on 1990 levels. Our goal of 1.5C… Is aligned with our goals for growth. But a global problem also requires global partnership. Responsible international co-operation. Which is why we took the opportunity at this COP to again urge all Parties – To come forward with ambitious targets of their own. As we all agreed at the last COP. And through the NDC partnership, we are supporting developing countries to develop their own commitments. We will also soon be launching the Global Clean Power Alliance. A political alliance of countries committed to accelerating the clean energy transition… Including unlocking the private finances that are needed. That is why I was pleased to announce Scottish Power has awarded a £1 billion windfarm turbine contract to Siemens Gamesa… Part of their £24 billion investment plan to support British pioneering energy projects… Which will inject growth into our industrial heartlands… And support 1,300 local jobs around Hull… And produce enough clean energy to power 1 million homes. As well as the Clean Industry Bonus Scheme – To support offshore wind developers… Invest in cutting-edge manufacturing and ports… boost green jobs… and strengthen supply chains. And the launch of the new CIF Capital Market Mechanism… On the London Stock Exchange. A joint effort announced today with our international partners and the City of London… With the potential to mobilise up to 75 billion dollars… in additional climate capital for developing countries over the next decade. And cementing London as the world's leading green global financial centre… Showing that Britain is open for business… And back as a global leader. This COP, the UK has sent a clear message. We are delivering on our promise for good jobs, cheaper bills, and higher growth. We are backing UK energy and security on the world stage. We are a key partner for countries, for investors and for businesses… And we are renewing UK climate leadership…. To deliver for Britain. My mission is to make sure our country… and our children… have the prosperity… the security and the stability… that they deserve for generations to come. With this government, the UK will lead the way… And lead Britain and the world… into a cleaner, safer, a more prosperous future for all. Thank you very much.
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