I spoke in a green finance debate in Westminster Hall yesterday afternoon about the role that the City of London, as a global financial centre, must play if we’re to move toward a more sustainable economy. Only then can we reverse years of stagnant growth and create hundreds of thousands of green jobs.
For over a decade the Conservatives have failed to give markets the confidence to invest in the green transition: slashing solar subsidies, cutting home insulation projects, and just this month attempting to block onshore wind.
I’ve spoken to countless businesses over recent months who have all asked for the same thing – certainty. This is exactly what Labour’s Green Prosperity Plan will deliver. With £28bn of green capital investment every year until 2030, companies will be incentivised to follow suit, paving the way for battery factories for electric cars, British-made offshore wind turbines, flood defences, tree planting, insulated homes, and reduced energy bills.
Watch clip here.