Many thanks to those who have contacted me about action on climate change.
I am pleased that the UK, which is continuing to play a world-leading role in tackling climate change, was the first G7 country to legislate to achieve net zero by 2050, and we are decarbonising faster than any G20 country. In addition, we have set ambitious climate targets in law, such as a commitment to reduce emissions by 68 per cent by 2030, and also to reduce emissions by 78 per cent by 2035, both compared to 1990 levels.
This does not come at the expense of economic growth. The UK has grown its economy by 75 per cent while cutting emissions by 43 per cent since 1990.
The UK accounts for approximately 1.2 per cent of global emissions and the Government and COP26 Presidency is working to ensure other countries, particularly other G20 countries which account together for 80 per cent of global emissions, to urgently submit new or updated 2030 targets (Nationally Determined Contributions) with their plans for ambitious climate action ahead of the vital COP26 summit later this year in Glasgow.
To continue momentum, the Prime Minister established the Cabinet Committee on Climate Change to ensure all arms of Government are focussed on tackling this challenge.
The 2021 Budget also reinforced the UK’s strong track record in this area, with announcements including £640 million for tree planting and peatland restoration, over £1 billion to support the transition to electric vehicles, at least doubling funding for energy innovation, and tax measures to reduce plastic waste, among other measures. The Chancellor also announced £15 billion of green gilt issuance to help support vital projects to tackle climate change, to fund critical infrastructure investment, and create green jobs across the UK.
In addition, the Prime Minister's Ten Point Plan lays the blueprint for how we will achieve net zero. The plan will mobilise £12 billion of Government investment to create and support up to 250,000 highly-skilled green jobs in the UK, and spur over three times as much private sector investment by 2030. Included in the plan is £160 million investment into offshore wind which will create 60,000 jobs, a commitment to produce enough offshore wind to power every home, quadrupling how much the UK produces to 40GW by 2030.
At the same time, the Environment Bill has been introduced to protect and improve the environment for future generations, enshrining in law environmental principles and legally-binding targets.
The next decade will be decisive and every country, government, business and citizen must come together to tackle this huge threat to our planet and humanity.
I will continue to monitor the situation. Thank you again for taking the time to contact me.