That is well worth doing—we should encourage younger generations to recognise the power that trees have in capturing carbon—but 11 million trees goes nowhere near what would be required to get to net zero. It is a step in the right direction but only a single step.
Brexit and leaving the common agricultural policy provide the UK with a unique opportunity to take a lead, as my right hon. Friend the Secretary of State is doing through the Agriculture Bill, in developing a new system of support to encourage such change in land use. While it will not be easy, it is absolutely right that we take full advantage of this opportunity.
We have heard much about the problems and challenges of meeting these targets but very few solutions offered yet in this debate, so I would like to highlight two. Innovation and maturing technology will create opportunities and solutions and drive down costs—as we have seen, solar costs have declined by 35% in the last three years alone—but a balance of technologies will be required; there will be no simple single solution.
There has been considerable focus—my hon. Friend Rebecca Pow mentioned it earlier—on the switch to electric vehicles, but this will pose very significant generation challenges. One example provided to me recently suggests that one motorway service station replacing 20 petrol and diesel pumps with 120 electric superchargers—the number needed to fuel the same number of vehicles in an hour—would require a 14.5 MW substation, which is equivalent to the electricity required for 32,000 homes. This is, then, unlikely to be the simple solution that some of us hope for, so I would like to make a quick plug for hydrogen fuel cell generation, which can become cheaper than batteries and is being pioneered by a small company, Riversimple, which was started in my constituency. It has the added benefit of reducing reliance on cobalt, which is required for batteries and is itself a finite resource.
The second solution is for changing attitudes and behaviour in an area of UK global strength—it is something I have taken a particular interest in on the EAC: the UK’s leadership role on emerging green finance initiatives. This was set out in our Committee report last year, “Greening Finance: embedding sustainability in financial decision making”. Climate risk reporting by companies and pension funds will make clear the financial implications of ignoring climate change and provides an opportunity for the UK to show global leadership.