Tackling Climate Change

Part of Cop26 – in the House of Commons at on 20 April 2022.

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Photo of Alok Sharma Alok Sharma Minister without Portfolio , COP26 President (Cabinet Office)

Tackling climate change is the right thing to do and it is also economically the smart thing to do. That is why at COP26 we had $130 trillion of private sector money signed up to net zero. It is why our presidency has managed to persuade 90% of global GDP to sign up to net zero. It is why our net zero strategy talks about many hundreds of thousands of jobs and billions of pounds of inward investments. My hon. Friend talks about costs, but I just say to him: look at what the Office for Budget Responsibility estimates as the unmitigated cost of climate change. We are talking about almost 300% debt to GDP by the end of this century. I know that he is a fiscally responsible Conservative, as I am, and he would not want to burden future generations with that level of debt.