COP 26 — House of Lords, 2021-11-16
Topic: Environment
Natalie Evans (Conservative, Centre-right): I thank the noble Baroness and the noble Lord for their comments. I am slightly disappointed, although, to be fair, the noble Baroness did highlight that much progress had been made. I think we have been very clear that we did not reach all the targets that we wanted to reach, but it is a misrepresentation of COP to say that we did not make some significant progress. The Glasgow climate pact was a historic agreement, the gap in ambition has narrowed and we now have net-zero commitments for over 90% of the world’s economy, up from just 30% two years ago COP has kept 1.5 degrees alive. I completely accept the noble Baroness’s point that we did not get as far as we wanted, but the combination of net-zero targets, enhanced 2030 emission-reduction commitments and agreed action in key sectors, all underpinned by the rules, systems and support agreed in Glasgow, will significantly reduce emissions by 2030 and can put the world on track for below two degrees. I totally accept, as does the Prime Minister, and indeed Alok Sharma, that there now needs to be a concerted effort and delivery by all countries. We are not on track for 1.5 degrees at the moment, but that is one reason why COP 26 agreed that countries will return next year with stronger emission reduction targets for 2030, so that we can keep the momentum going and try to get back on track So countries have agreed to return next year with their new targets. This will be combined with a yearly political round table to consider a global progress report and a leaders’ summit. The pact creates a new UN programme to work with countries to scale up their emission reduction targets, and these will report back next year. Following this COP, a yearly report from the UNFCCC, which was previously conducted every five years, will give a clearer picture of countries’ latest targets and how they are going to close the emissions gap. The noble Lord talked, for instance, about pressure on China. All these actions are aimed at shining the spotlight on all countries and globally, and helping us continue to move forward One thing that neither the noble Baroness nor the noble Lord mentioned, but which it is important to mention, is that the Paris rulebook—the guidelines on how the Paris Agreement is to be delivered—was completed after six years of discussion. These guidelines are an important step forward in transparency and holding countries to account for their targets The noble Baroness and the noble Lord rightly talked about coal. We have been quite clear that it was disappointing that some countries wanted softer language than perhaps we would have liked. However, I still maintain that this was the first time that a pact has mentioned coal power and fossil fuels. They were referenced in a COP text and were agreed by all the countries involved. Some 65 countries have now committed to phasing out coal, including four of the world’s top 20 coal power-generating countries: South Korea, Indonesia, Vietnam and Poland. All major coal-financing countries have committed to end international coal finance by the end of 2021. We also saw a significant commitment of the G20 countries in that regard, which included China, the USA and India, which can have an immediate impact in the Asia-Pacific region The noble Lord asked about the Chancellor’s announcement. He set out plans for the UK to be the world’s first net-zero aligned financial centre, with new requirements for UK financial institutions and listed companies to publish net-zero transition plans that detail how they will adapt and decarbonise as the UK moves towards a net-zero economy by 2050, and further work and publications will come on that side of things Both the noble Lord and the noble Baroness rightly mentioned the $100 billion climate finance target. Again, we have said that we deeply regret the fact that this target was not met in 2020 as originally committed to, but the plan does show that the goal will be met by 2023 at the latest and continues on a rising trajectory to 2025. We are increasingly hopeful of meeting, or coming close to meeting, the goal by 2022, although I accept that that is obviously still two years out. It has been important that 95% of the major developed country climate finance providers have come forward during COP with increased multi-year climate finance commitments, with some doubling or even quadrupling their climate finance We welcome Australia’s commitment to net zero by 2050. I can assure the noble Baroness that our trade deal with Australia will include a substantive chapter on climate change, which reaffirms our joint commitment to upholding our obligations under the Paris Agreement, including limiting global warming to 1.5 degrees. That goes further than many previous trade agreements Domestic aviation, which both the noble Lord and the noble Baroness mentioned, accounts for less than 1% of the UK’s total emissions in 2019. We have announced, alongside the announcements in the Budget, a new ultra-long-haul ban to align more closely with our environmental objectives. We are also investing £180 million in a competition to support the development of plants for sustainable aviation fuel in the UK The noble Baroness asked about the Cambo field. That proposal is being scrutinised by independent regulators, and no decision has yet been taken, but the UK was the first G7 country to agree a landmark deal to support the oil and gas industry’s transition to clean green energy by 2050 while supporting 40,000 jobs. The reason we were able to bring people together and take these steps forward is that we are a world leader in this area. We are leading by example and we will continue to lead by example. While we did not achieve everything that we wanted at COP, it has been a major step forward for the world.