Urgent action needed to decarbonise high-emitting sectors: UK statement at Climate Ambition Summit
Statement by Minister Graham Stuart at the UN Secretary-General’s Climate Ambition Summit on decarbonisation.
We have to speed up decarbonisation to keep 1.5 in reach - while taking people with us.
Since 1990 the UK has cut its emissions by more than any other major world economy, reducing them by 48% while growing its economy by 65%.
We will prioritise economic growth while delivering both our 2030 NDC and net zero by 2050.
As the PM said this morning, we will do this in a way that is both pragmatic and inclusive.
Being practical and delivering real-world change is exactly what the Breakthrough Agenda is about.
Last week’s report shows the progress being made. But some industries like steel and cement are not moving fast enough…
Announcements for near-zero emission steel plants have fallen far short of the 100 megatonnes needed globally by 2030.
For cement, there are only plans for around 6 percent of the near-zero emission capacity needed.
We need urgent action to decarbonise these high-emitting sectors and meet the Paris goals.
That means increasing research and development, scaling up clean technology finance, and boosting the market for green industry.
Finance is critical: the UK is leading with our commitment to deliver £11.6 billion of climate finance. At the G20 we made a pledge of £1.62 billion for the Green Climate Fund.
And I am pleased to announce today that the UK will provide a £160m package to support developing countries and ensure decarbonisation and economic growth go Hand-in-hand.
This funding will support coordinated action towards COP28, working through initiatives including the Clean Energy Innovation Facility and the Mitigation Action Facility.
The Breakthrough report’s recommendations set out how we can collaborate to make clean technologies more affordable and available – particularly in high-emitting sectors.
For example, a new ‘Cement Breakthrough’, led by Canada, is in development - and I’m pleased to announce that the UK will join that initiative.
We are also proud to co-lead the ‘Steel Breakthrough’ with Germany – endorsed by 31 countries.
The Breakthroughs are working with the COP28 Presidency to make decarbonising steel a priority this year – and I hope we can build a stronger global alliance to put our industries on track for net zero.