{"id":5831,"date":"2024-11-12T00:00:32","date_gmt":"2024-11-12T00:00:32","guid":{"rendered":"https:\/\/tradetrovex.com\/index.php\/2024\/11\/12\/sir-keir-starmer-tells-private-sector-to-start-paying-their-fair-share-on-global-climate-change\/"},"modified":"2024-11-12T00:00:32","modified_gmt":"2024-11-12T00:00:32","slug":"sir-keir-starmer-tells-private-sector-to-start-paying-their-fair-share-on-global-climate-change","status":"publish","type":"post","link":"https:\/\/tradetrovex.com\/index.php\/2024\/11\/12\/sir-keir-starmer-tells-private-sector-to-start-paying-their-fair-share-on-global-climate-change\/","title":{"rendered":"Sir Keir Starmer tells private sector to \u2018start paying their fair share\u2019 on global climate change"},"content":{"rendered":"

The prime minister has encouraged companies to start spending money on global climate change as he heads to the COP summit in Baku, Azerbaijan.<\/p>\n

On the trip to the Caspian coast, Sir Keir<\/strong> spoke to journalists travelling with him.<\/p>\n

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He was asked if the UK \u2013 which the government says is struggling financially \u2013 would commit to spending new money on helping developing countries with climate change.<\/p>\n

Politics latest: \u2018Improve care or lose pay rise,\u2019 NHS told<\/strong><\/p>\n

There have been calls for a $1tn (\u00a3777bn) financing agreement to help less wealthy nations reduce emissions and meet other targets.<\/p>\n

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Sir Keir told journalists his government would honour the monetary promises made at a previous COP summit under the Conservative government.<\/p>\n

This current meeting \u2013 COP29<\/strong> \u2013 will then \u201cwant to look at a future [climate finance] sum taking us through to 2035, but we\u2019re not making UK commitments in relation to that\u201d, he said.<\/p>\n

Sir Keir added: \u201cI will be making an argument powerfully that now is the time for the private sector to start paying their fair share in relation to these commitments.\u201d<\/p>\n

As part of this, a new \u201ccapital market mechanism\u201d will be launched on the London Stock Exchange, with Downing Street hoping it will raise \u00a375bn for green investment over the next decade.<\/p>\n

Sir Keir and the government want to take advantage of the surge in green investment as part of their economic growth strategy.<\/p>\n

He told reporters he has been clear the \u201cclimate challenge\u201d is a \u201chuge opportunity for the UK if we get it right\u201d.<\/p>\n

\u201cThat is why we have made it one of our missions to have clean power by 2030, and if you look at the inward investment that we have triggered in the last four months, a huge amount of that is on renewables \u2013 that is where global investors want to put their investment.<\/p>\n

\u201cSo I see climate change as an important obligation on which we\u2019ve got to show leadership, but it\u2019s also an incredible opportunity for the UK to get ahead on the world stage, and I am determined we are going to do that.\u201d<\/p>\n

Downing Street believes the UK can act as a green financial hub, and use that to bring investment, jobs and growth.<\/p>\n

One report suggested the \u201cgreen economy\u201d grew by 9% last year, while the rest of the UK stagnated, and business urged a pro-green industrial strategy<\/strong>.<\/p>\n

Listen to Sky News Daily on your podcast app <\/strong><\/p>\n

The new government has started approving more projects like onshore windfarms and solar farms.<\/p>\n

Increasing growth is key to the plan of Sir Keir and Chancellor Rachel Reeves \u2013 but their plans may be difficult to achieve if the economy does not expand at the rate they hope.<\/p>\n<\/p>\n

This post appeared first on sky.com<\/div>\n","protected":false},"excerpt":{"rendered":"

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