Ed Miliband has called on Governments across the world to commit to decarbonsising the energy sector by 2030. In addition to the 2030 pledge, the Leader of the Labour Party has stressed the importance of a thriving green economy to help lift the country out of its current economic mire.
Writing in the Green Alliance’s journal, Inside Track, Miliband argued that: “investing in the infrastructure for a low carbon economy will both kick start the growth that is currently missing and make our economy resilient to price shocks in an age of scarcity.
“It is Governments which set the low carbon targets and correct market failures; and the degree of support for policies shown by Governments is a major part of perceived risk for investors. To attract the investment we need, Governments must cover that risk and commit to a clear goal of decarbonising the power sector by 2030, as the independent Committee on Climate Change has recommended.”
Miliband continued: “At a time when the British economy is desperately in search of new sources of growth, the potential for a green industrial revolution is huge.
“This is the time to stand proud and declare that we want to lead the world in the low carbon, resource efficient technologies of the future. The countries that make the leap first will be the successful economies of this century, exporting technology around the world to cities seeking cleaner air and lower emissions.”
Green Alliance Director, Matthew Spencer, added: “Ed Miliband is the first UK political leader to commit his party to decarbonise our power sector. This is a chance to rebuild the cross-party consensus on climate change. Public concern about climate change is rising again, and the economic stimulus created by bold low carbon policy should weigh strongly in political considerations.”
Miliband’s backing of the green economy follows Ed Davey’s strongly-worded warning that he is prepared to fight conservatives over the potential of green growth in the UK economy.
The admission of both the Liberal Democrats and the Labour Party that green investment is capable of providing a secure platform for growth in the UK signals the start of what could be a keen political battle after the Conservatives have been subject to fierce backlash over its claims to be the ‘Greenest Government ever’.