Sir Keir Starmer would not comment on Donald Trump’s views about climate change, saying instead that he is “very clear” that in his own mind that it is a challenge he must “rise to”.
The UK will on Tuesday set out a new target to reduce fossil fuel emissions but will not make any new financial commitments at the Cop29 environment summit in Azerbaijan, the Prime Minister said.
Under the target, the UK will pledge to reduce its emissions by 81% compared with 1990 levels by 2035, a goal in line with the recommendation of the Climate Change Committee, according to The Guardian newspaper.
Sir Keir also said he would be pushing for the private sector to “start paying their fair share” when it comes to climate commitments.
The newly re-elected US president is expected to boost fossil fuels, roll back green incentives domestically and pull his country out of the Paris climate agreement again.
Sir Keir said he would not comment on Mr Trump when asked if he was prepared to call out the president-elect about his claims that climate change is a hoax.
“Well I’m not going to comment on his views.
There's a global race on now to be the global leader on this. I want us to be in the race and I want us to win the race
“I am very clear in mine, which is that the climate challenge is something that we have got to rise to and that’s why I’ve repeatedly said we’ve got to show leadership,” Sir Keir told journalists travelling with him to Baku for the summit.
The Prime Minister said he saw action on climate change as not just an obligation, but an opportunity.
“The UK has a huge opportunity to get ahead here when it comes to renewables.
“That’s why I’m encouraging as much investment as I can when it comes to carbon capture, when it comes to hydrogen, when it comes to offshore wind.
“There’s a global race on now to be the global leader on this. I want us to be in the race and I want us to win the race.”
Wealthier countries are facing pressure over delivering finance to help poor countries cope with climate change, and increasing their ambitions on emissions cuts.
One hundred billion dollars (£77 billion) a year was pledged in private and public finance to help poorer nations, as part of efforts to secure the Paris treaty negotiated in 2015.
But wealthier nations must now iron out a new finance agreement that meets the Paris commitments for sufficient cash flows for cutting emissions and adapting to climate change, with experts saying one trillion US dollars needs to be flowing into developing countries each year by 2030.
In 2019, the Tories pledged £11.6 billion to help poorer countries deal with climate change over five years to 2025/26.
I will be making an argument powerfully that now is the time for the private sector to start paying their fair share in relation to these commitments
The Labour Government will honour that commitment and set out a new target to reduce emissions, the Prime Minister said, adding: “When it comes to emissions, we will set out our target tomorrow.
“Obviously Cop will then want to look at a future (climate finance) sum taking us through to 2035, but we’re not making UK commitments in relation to that.
“This exercise is not about domestic countries and the contribution they’re making, that’s about the Cop arrangement for what the sum will be to 2035. So I’m not making any commitment for the UK at this COP at all on that front.”
Sir Keir Starmer will argue that the climate transition presents an almost seven trillion-dollar (£5.43 trillion) investment opportunity.
The Government estimates that supplying the goods and services to enable the global net-zero transition could be worth £1 trillion to UK businesses by 2030.
https://x.com/COP29_AZ/status/1841137855491662181
Foreign Secretary David Lammy and Energy Secretary Ed Miliband travelled with Sir Keir to the summit.
During Cop29, the Government will announce the launch a new CIF Capital Market Mechanism on the London Stock Exchange which it says could mobilise up to 75 billion dollars (£58 billion) in additional climate capital for developing countries over the next decade.
“I will be making an argument powerfully that now is the time for the private sector to start paying their fair share in relation to these commitments,” Sir Keir told journalists.
He said they would be launching the initiative because “I think it’s high time the private sector played their part in this”.
Sir Keir will hold a one on one meeting with the president of the World Bank on the fringes of the summit on Tuesday.
