Labour has set out five demands to Keep 1.5C Alive. The bold new policy aims to mobilise the City behind climate action, turbocharge the global shift to net zero, and make the UK the green finance capital of the world.
Labour’s five demands of the Government to Keep 1.5C Alive include:
- Leading by example. Climate action must start at home. By investing in £28bn every year until 2030 to tackle the climate crisis, we can protect the planet and create secure jobs in the UK.
- Supporting the most vulnerable. By reversing the overseas aid cut, delivering and surpassing the $100 billion pledge to help developing countries cut emissions and adapt to climate change, and vaccinating the world’s poorest.
- Pressuring the big polluters. By calling for 1.5C-aligned targets from big-emitting countries, phasing out fossil fuels, and ensuring a just transition for workers.
- Protecting nature. By ending deforestation and ensuring all emissions reduction protects and promotes nature. We also need a robust Net-Zero and Nature Test for all government spending.
- Mobilising private finance behind climate action. By requiring financial institutions and FTSE100 companies to publish their carbon footprint and adopt credible 1.5C-aligned transition plans.
These calls sit alongside plans recently announced by Shadow Chancellor Rachel Reeves to be the country’s first ‘Green Chancellor’ with a pledge to invest an additional £28 billion every year between now and 2030 to accelerate the transition to net zero.
Ed Miliband, Labour’s Shadow Business Secretary, said: “This proposal would be a game-changer in the fight against climate breakdown, setting a global standard and making the UK the green finance capital of the world. It would offer huge opportunities for our companies and investors and ensure that we manage the transition properly and act in this decisive decade."
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