As wildfire smoke engulfs much of the east coast of the US and average global temperatures continue to rise, with the world imminently facing some of the hottest years on record, it would be an error of judgment for the Labour party to delay its green investment pledge. Doing so would not only be a mistake for our economy and the climate, but also threaten Labour’s electoral prospects, given strong public demand for bold action on this issue.
Together with its world-leading promise to end all new domestic oil and gas developments, the Labour party’s £28bn-a-year investment pledge to green industries marks the scale of climate ambition we need to see from a future British government. These commitments mark Labour out as a potential major climate leader and, like Joe Biden’s landmark Inflation Reduction Act (IRA), the investment pledge clearly demonstrates that the party is in tune with the economic realities of today’s world.
